Well, duh :)
http://www.offthechartsblog.org/why-is-labor-force-participation-shrinking/
September 5, 2012 at 4:18 pm
Posted by: Kathy Ruffing
With the latest jobs report coming out Friday, the Congressional Budget Office’s (CBO) recent budget and economic update provides important context for one closely watched figure: the labor force participation rate.
The percentage of people over age 16 who are working or actively seeking work has slipped fairly steadily for the past few years. CBO says a big reason is “the economic downturn [and] weak growth in output during the recovery.” In other words, the recession and lack of job opportunities have driven many people from the labor force.
But, in a finding that has attracted little attention, CBO says that roughly half of the recent drop in labor force participation has occurred simply because more and more baby boomers are hitting retirement age.
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