Bad trend lines

Pertinent to a conversation this afternoon.  The peak labor force participation rate was 67.3% in January 2000.

For January, 2023, we are at 62.4%, a decline of 4.9 points from the peak.  A nearly 8% contraction in the national labor force in a single generation.

Considering how dependent we are on LFPR to support such a broad range of social programs, this decline is both significant and perilous.  And it does not get much discussion.

Not only is our labor force aging but a smaller and smaller percentage are willing to engage in labor.  We are better off than most of the rest of the OECD but those trend lines bode ill.