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Journal Article
Labor Force Composition during the COVID-19 Pandemic
Compared with the U.S. as a whole, the labor market in the Fed’s Eighth District experienced a slightly milder downturn from 2020 to 2021.
Report
Population Aging and the US Labor Force Participation Rate
The labor force participation rate dropped sharply at the beginning of the pandemic, and as of November 2021 it had recovered only about half of its lost ground. The failure of the participation rate to get closer to its level immediately before the pandemic has puzzled many analysts. In this note, we show that the current participation rate is much less puzzling if one compares it with participation in November 2017 (the last time the unemployment rate was at its current level of 4.2 percent), rather than February 2020 (immediately before the pandemic). Since November 2017, population aging ...