What explains the marked drop in labor force participation over a 10-year economic boom?
Census data on age groups and active participation in the labor force highlights the underlying phenomenon, particularly a rise in the percentage of the population ages 65 and over.
Conventional wisdom says that discouraged workers are dropping out of the labor force and causing this number to fall. But that conclusion seems to overlook significant demographic shifts at play.
More detail is here in this analysis from the U.S. Census Bureau:
Aging Boomers Solve a Labor Market Puzzle
