nyt todayA large part of the "leaving the work force" is the retired and semi-retired population. The baby boomers are turning 65. The over 50 population was particularly hard hit in the 2008 retrenchment. Many of them are hanging it up or semi-retired.
Keeping Up, Not Getting Ahead - NYTimes.comBaby boomers are aging into retirement. Even before the recession, the government projected in 2007 that participation would decline to 65.5 percent by 2016, from 66 percent. But the April rate of 63.3 percent means the labor force has lost roughly five million additional workers.
Furthermore, the projections were wrong. Participation has actually risen among people older than 55. The decline is entirely driven by younger dropouts.
One nitpick with your link:About 22% of Part time for ecomic reasons usually work full time, but are working reduced hours due to slow business. And another 44% also are working part time due to slow business but are classified as (usually part time) because for the last few months they've been working part time.People who are looking for full-time work but have to settle on a part-time job due to economic reasons. This means that they want full-time work, but can't find it.
Therefore, since the world has still/Much good, but much less good than ill,
And while the sun and moon endure/Luck's a chance, but trouble's sure,
I'd face it as a wise man would,/And train for ill and not for good.
AP: Economic recovery is weakest since World War IIAmerica's gross domestic product — the broadest measure of economic output — grew 6.8 percent from the April-June quarter of 2009 through the same quarter this year, the slowest in the first three years of a postwar recovery. GDP grew an average of 15.5 percent in the first three years of the eight other comebacks analyzed.
Baby Boomers, Not Recession, Behind Drop In Workforce - Forbes
Baby boomers, the generation born between 1946 and 1964, started reaching the conventional retirement age, 65, last year. That would certainly have many of them leaving their jobs and heading toward the doors. Itís their exit from the labor force that could explain why the labor-force participation rate has fallen from 66% at the end of 2007 to near 63.9% today, a group of Barclays Capital economists argue in a new report.
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