The tight U.S. labor market is not drawing new people into the labor force, but ...
WASHINGTON - The tight U.S. labor market is not drawing new people into the labor force, but merely reducing the number dropping out, according to research published on Monday by the San Francisco Federal Reserve.
The labor force participation rate, or the proportion of working-age Americans who have a job or are looking for one, hit a more than five-year high in January. It has been mostly driven by gains in the 25-55 age group, the prime-aged population. The labor force participation rate declined sharply during the 2007-19 recession and continued to trend lower in the years after. It has, however, been steadily rising since the past year, leading some economists to believe that there is still some slack in the labor market.
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