Shifting winds: Demographics play role in employment dynamics
Politicians and pundits blame sinking workforce participation on discouraged workers exiting the job market, but actually demographics plays a big role.
The plummet in labor force participation is a hot news topic, but despite loud proclamations from politicians and pundits about discouraged workers exiting the job market, demographics is playing a large role. The baby boomers, whose numbers and consumption habits pushed economic growth in the past, are moving into their retirement years when they will work and spend less, according to economist Dennis Hoffman, director of the L. William Seidman Research Institute. Here is his presentation, from the Economic Club of Phoenix luncheon.
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