According to The Economics Daily's analysis of data from the U.S. Bureau of Labor Statistics, the labor force participation rate fell to 62.4% in September 2015.
The rate of labour force participation is calculated by dividing the labour force by the total number of people who are working-age. The working age population ranges in age from 15 to 64. This statistic is broken down by age and expressed as a percentage of each age group.
Demographic factors like sex, birth year, education, marital status, and the presence of young children at home affect people's labor force participation differently.
Researchers have identified a number of factors that contribute to low labor force participation. Briggs (2021) lists factors including daycare shortages, excessive short-term savings, and changed work choices as drivers of the decline in labor force participation.
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