I hear a lot about the low labor participation rate, but it really isn't as clear as those plain graphs make it out to be. In fact, one of the biggest drivers of the downward trend we are seeing is our aging population.
One of the most commonly cited numbers tends to float around "100 million Americans out of work", but lets look into who those americans are.
-41million of those are retired (the vast majority of those being over 65)
-15million of those are in schooling
-About 12million of those are taking care of families (estimate based on graph scale)
-About 13million of those are disabled/ill (estimate based on graph scale)
When you actually account for these factors, the numbers get far less shocking. Here are some graphs showing how things changed and demonstrating the numbers I just listed.
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