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What has happened with the labor force participation rate from 1948 to today? Millions of people...

  1. What has happened with the labor force participation rate from 1948 to today?
  2. Millions of people dropped out of the labor force in the last 10 years. How does that affect the unemployment rate?
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Answer - The labor force participation rate has kept on increasing from 1948 till the start of 2000 and it grew to around 67 percent in early 2000. After that it started to decline drastically and it is around 63 percent in march 2020. Hence after the increase , the labor force participation rate has declined.

The unemployment rate is calculate as the ratio of number of unemployed to labor force . The decrease in the labor force will tend to reduce the value of denominator. Hence the unemployment rate will increase as a result of the decrease in labor force .

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