Saturday, April 6, 2013

Quotation And Chart Of The Day: The US Labor Force Edition

The chart comes from Businessweek; Derek Thompson provides the analysis:

Bloomberg Businessweek Chart
The reason the labor force's share of the country is shrinking has to do with both economics and demographics. We're becoming an older country, and should expect more Americans in their 60s to retire in the next decade. College matriculation rates also rose through the recession as the opportunity cost of going to school fell because the large Millennial cohort saw there were so few jobs for young people. Meanwhile the number of people who want to work but just don't think there are jobs for them have grown significantly and disability rolls have also increased fast enough that some people suspect that discouraged workers are claiming disability insurance to make money.

No comments: