Journal Article
Declining Immigration and an Aging Population Are Reducing Breakeven Employment Growth
Abstract: Two forces are weighing on labor force growth in the United States: an aging population and recent declines in immigration. These two forces reduce the number of new jobs required to maintain a stable unemployment rate each month, known as breakeven employment growth. Lower breakeven employment growth may help contextualize recent soft payroll readings, suggesting less weakness in labor demand than payroll numbers alone might imply.
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https://www.kansascityfed.org/research/economic-bulletin/declining-immigration-and-an-aging-population-are-reducing-breakeven-employment-growth/
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Bibliographic Information
Provider: Federal Reserve Bank of Kansas City
Part of Series: Economic Bulletin
Publication Date: 2025-10-15
Pages: 4