Journal Article

On the causes of declines in the labor force participation rate

Abstract: The unemployment rate stood at 5.0 percent when the Great Recession started in December 2007 but had more than doubled toward the end of 2009, peaking at 10 percent. Since then, however, it has steadily declined. As of the end of 2013, the jobless rate stood at 6.7 percent. While it is still high by historical standards, significant progress has been made. Moreover, the declines were often faster than many had predicted.

Keywords: Labor force participation rate; Unemployment;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Research Rap Special Report

Publication Date: 2014

Issue: Feb

Order Number: 1