Sunday, February 13, 2011

2010 Labor Force Participation

Over the weekend, the Bureau of Labor Statistics released 2010 labor force statistics. The numbers reveal plummeting labor force participation rates in most age groups. The biggest decline was among teenagers aged 16 to 19. Their labor force participation rate fell from 52 percent in 2000 to just 35 percent in 2010.

Among men aged 16 or older, labor force participation fell 3.6 percentage points between 2000 and 2010, to 71.2 percent--the lowest level on record. (Remember, labor force participation rates include the employed AND the unemployed.)

Among women aged 16 or older, labor force participation fell 1.3 percentage points to 58.6 percent.

Labor force participation increased only among people aged 55 or older. The biggest gain was among men and women aged 65 or older, a 4.4 percentage point rise in participation to 22.1 percent among men and 13.8 percent among women.

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