Well, the aging of America means that if working-age labor force participation keeps falling, we'll be back to the levels of the 1950s much faster than anyone expected – and that workforce will be paying for a much more expensive entitlement system than the workforce of the Eisenhower era did.
As populations age, labor force growth will slow, triggering labor scarcity in a growing number of industries.
While the state's population grew 5.3percentthethe number of 20 to 34 year olds declined as the baby bust generation came of working age, and the labor force grew just 3.5percentt.
Frustrated workers leaving the labor force helped bring the unemployment rate down from 8.2%to8.1%1%, resulting in the lowest rate of job participation (percentage of working age population in the labor force) since 1981.
Most importantly, the proportion of people of working age participating in the labor force fell from over 66percentt in 2008 to 62.8percentt by the end of 2013.
In contrast, the United States has a shrinking and aging labor force.
Beginning in 2019, the number of U.S.-born residents of working age will decrease and the labor force will lose 2.1 million people by 2028, according to the report.
As disabilities explore new highs, the labor force participation rate (the labor force divided by the working age population) plumbs new lows.
In fact, overall labor force participation for working age adults has risen from around 70% in 1970 to over 80% today.
As the last large population group reaches working age, the number of adults in the labor force is high relative to more dependent groups — the young and the elderly — for a time.
As of June 2012, according to the Bureau of Labor Statistics, only 32percentt of working age people with disabilities were in the labor force, and only about 27.6percentt were actually working.
