Credibly promising to be irresponsible...since 2004!
What percentage of that do you think are retirees? It would make sense that the baby-boomers retiring would contribute to much of the drop in the rate of employment.
The first (born 1946) baby boomers are just this year turning 64--if boomer retirements are involved in the recent drop, they're taking early retirement.
So, it's about 5% off the average? is that actually surprising? Is that strong evidence for the presence of the discouraged worker?
It's about 5% off the high. Certainly not the end of the world, but if it translates to a 5% drop in productive output (or worse as 5% more are being paid to do nothing through welfare and unemployment) then it's definitely significant.
There is an interesting debate in the blogosphere exploring the reasons for the persistent high unemployment rates in the US and elsewhere. Conservatives lay the blame on the structural skills mismatch and argue that this cannot be resolved through any stimulus spending measures. Liberals claim that the massive slump in aggregate demand from the boom, means that there are massive idling resources which can be brought to work with an appropriately structured stimulus program.Resume Writing Tips
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