Regarding the Labor Force Participation Rate….10,000 people a day turn 65. There are more people who leave the labor force every day than come in.
There were also at least 2 million excess retirements in 2020-21 due to COVID. Excess retirements are those above the normal trend line.
Under the circumstances, LFPR is hanging in there.
There are still many professions which have many vacancies and labor shortages. Some might be expected, but I never thought I’d see the day when we can’t find enough nurses, doctors, teachers, cops, and many more.
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