Question

The age distribution of the population changes over time—in the United States, better health care (longer...

The age distribution of the population changes over time—in the United States, better health care (longer lives) and lower fertility (fewer kids) in recent years means that the proportion of people over age 16 is increasingly larger. At the same time, the labor force participation rate is likely to decline as baby boomers retire. Using the same method as in the previous problem, calculate total employment and the employment-to-population ratio based on the scenario in the table below.




Year




Unemployment
Rate (percent)




Labor Force Participation Rate
(percent)




Working-Age
Population (millions)




Total Employment
(millions)




Employment-to-Working-Age-Population Ratio




2000




3.9




67.0




214




2010




9.8




64.8




237




2020




5.0




62.0




260
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