Journal Article

How Far Is Labor Force Participation from Its Trend?

Abstract: Labor force participation in the United States has dropped a percentage point since the pandemic began. Analyzing how participation has evolved for various groups of the population suggests that more than two-thirds of this decline has been due to persistent “trend” factors. The remainder is due to temporary economic conditions, or “cyclical” factors. Estimates project that trend factors—driven largely by population aging—could push labor participation down an additional percentage point over the next decade.

Keywords: labor force participation; pandemic; covid19; unemployment;

Access Documents

File(s): File format is application/pdf
Description: Full text - article PDF


Bibliographic Information

Provider: Federal Reserve Bank of San Francisco

Part of Series: FRBSF Economic Letter

Publication Date: 2023-08-14

Volume: 2023

Issue: 20

Pages: 5

Related Works