Briefing

The Persistent Decline of LFP Rates for Older Individuals Around the Pandemic

Abstract: Labor force participation (LFP) experienced a bit of a roller coaster ride with the onset of the pandemic. But not all age groups experienced the ride in the same way. For example, we see two very different paths for the LFP rates of prime-age (25-54 years old) individuals on one hand and individuals over 55 years old on the other. In this article, I focus on the latter group, for which (as of September 2024) LFP rates have not recovered to prepandemic levels.

Keywords: Business Cycles; Employment and labor markets;

Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Richmond Fed Economic Brief

Publication Date: 2024-11

Volume: 24

Issue: 34