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The OP is right...the lagging Labor Force Participation Rate is not all due to the economy. As Baby Boomers have been retiring, that brings down the percentage of Americans in the labor force. The number has been falling since about the year 2000, as the first Baby Boomers started to hit their 60's. The link below is a report from the Chicago Fed that shows that the LFPR will continue to fall through 2020 *no matter what* happens in the economy. So no president can be expected to move this number upward, and while it's true that SOME of the decline is certainly due to discouraged workers, primarily it is an unavoidable long term demographic trend.

Involuntary part-time workers did rise, like you say:

But this doesn't mean the picture has gotten worse. Overall, full time employment did grow, while it was part time employment that fell.

Which is to say that the "all the new jobs are part time jobs" talking point you've heard batted around in the WSJ and elsewhere since the Sept jobs report is simply not true.
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