From the New York Times online:
Don’t worry about labor force participation. It’s not coming back....
The unemployment rate has dropped almost entirely because of this decline in labor force participation.
In other words, it has not fallen because people are finding jobs.
It has fallen because fewer people are looking for jobs.
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Link: http://economix.blogs.nytimes.com/2013/07/18/labor-force-participation-is-not-coming-back/
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