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Politics : Formerly About Advanced Micro Devices
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To: Broken_Clock who wrote (871249)7/8/2015 12:16:33 PM
From: tejek  Read Replies (2) of 1577106
 
Here's What's Really Going On With Baby Boomers And The Labor Force





    Matthew BoeslerFeb. 24, 2014, 4:28 AM

    At 39.8%, the labor force participation rate for those 55 years of age and over is the lowest it's been since April 2009 (chart 1).


    Millions of "baby boomers" — a generation typically defined as those born during the post-war baby boom that took place between 1946 and 1964 — have retired from the workforce over the past six years.


    This is putting massive downward pressure on the total labor force participation rate, which currently stands at 63.0% (chart 2).

    Of course, the labor force participation rate for those 55 years of age and over has only been falling for the last year, whereas the total labor force participation rate has been falling for over five years.



    This has led to some confusion.



    How can retiring baby boomers be the primary driver of the drop in labor force participation if the participation rate for those 55 years of age and over has been mostly increasing in recent years as the total labor force participation rate has fallen?



    Business Insider/Matthew Boesler (data from St. Louis Fed)Chart 3.

    It's important to remember that, at 39.8%, the participation rate for those 55 years of age and over is still a massive 41.1 percentage points lower than the prime working age (25-54) participation rate, which currently stands at 80.9% (chart 3).



    Millions of Americans have been transitioning from the first bucket (25-54) to the second one (55+) over the past several years as the baby boom generation comes of retirement age.



    Since 2007, the prime working age population has fallen by 1.556 million, or 1.2%, whereas the 55-and-over population has risen by 14.063 million, a 20.2% increase (chart 4).

    Read more: http://www.businessinsider.com/baby-boomers-are-retiring-2014-2#ixzz3fJitceZe

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