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|Subject: More People Opt Not to Work Anymore||Date: 10/30/2012 2:57 AM|
|Author: intercst||Number: 46018 of 53653|
Heck, I haven't worked in 18 years.
As of September, the share of the adult population that either had a job or was trying to find one—a measure known as the labor-force participation rate—stood at 63.6%, close to a 30-year low. Other measures of job-market health, such as hiring and the unemployment rate, have shown slow but relatively steady improvement over the past two years. But labor force participation keeps falling.
Public attention on the shrinking labor force has tended to focus on unemployed workers who abandon their job searches. But such people make up a relatively small share of the millions of individuals who have left the labor force in recent years.
Most of the dropouts are retirees, students or stay-at-home parents—people who wouldn't want a job even if one were available.
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