There are several causes for that drop and for the rate to continue to be low. An analysis in August by the President’s Council of Economic Advisers suggests that about half of the drop comes from structural, demographic factors: the baby boomers, an immensely large cohort of Americans, are getting older and starting to retire.
According to the September jobs report, the labour force participation ticked up to 62.9%, compared to 62.8% in August.
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