Labor Force Participation Rate tried to stabilize in the 2016–2020 period. The pandemic ended that trend. Working age population began falling.

 You’ll notice that worker availability chart shown above peaked in 2009–2010. That also happens to be when the Baby Boom generation began reaching age 65. 

Not all are choosing to retire—indeed, many (like me) are not—but the demographic winds changed about that point. Working age population growth slowed and, after about 2018, actually began falling.

Nice charts.

The “Labor Force Participation Rate” measures the percentage of adults who either have a job or want a job. Some don’t because they are retired, full-time students, etc. So with Boomers retiring it has been on the decline, but even so, tried to stabilize in the 2016–2020 period. The pandemic ended that trend.

Prior to COVID, more older Americans (those 65 and older) were staying in the labor force. That trend has clearly changed. Let’s look at the chart

John Mauldin 3 September 2021

https://www.mauldineconomics.com/frontlinethoughts/human-capital-losses


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