I've heard for years about the declining rate of workforce participation. In other words, how many able bodied men and women are out of the workforce and not seeking a job.
This chart appeared in Bloomberg News and portrays the percent of able bodied men who are in the workforce.
1948 would be my father's early working years. Ninety-Eight percent of men were working then. Less than 90 percent are now.
A declining participation rate means lower than potential productivity which means lower than potential wealth in the country. Or, so I think.
Tuesday, December 12, 2017
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