Is the economy in worse shape than the Obama defenders suggest
The evidence we present in this paper suggests that much of the steep decline in the labor force partpatagonia down sweater full zip hoodyicipation rate since 2007 owes to ongoing structural influences that are pushing down the participation rate rather than a pronounced cyclical weakness related to potential jobseekers discouragement about the weak state of the labor market in many ways a similar message as was conveyed in the 2006 Brpatagonia laptop bag reviewookings Paper.
There been a lot of debate about the decline in the nation labor force participation rate. Some suggest it ispatagonia down sweater full-zip hoody review the result of a weak economy and slack labor market, which is resulting in people giving up looking for work and leaving the labor force. Others, including Wolfers and others trying to defend the current administration, contend that it is structural shifts brought on by an aging workforce patagonia outlet store in freeport maineand baby boomers reaching retirementpatagonia better sweater jacket on sale. In other words, the economy is not that bad. would decline from 2006 onward dupatagonia promo code free shippinge to shifting patagonia r1 fleece reviewsdemographics. The paper and its projection havebeen used by many to defend the declining LFPR, as well as the current Administration economic record and the current state of the labor market. The current paper also leans heavily on the findings to support its conclusionpatagonia down sweater full zip hoody2s that the decline in the LFPR is due largely to structural factors. As a result, the argument that the change in the LFPR is duepatagonia down sweater full zip hoody0 to structural factpatagonia better sweater 5kors is specious, and the current paper conclusions are also questionable. For starters, as with the LFPR, the EPR for the entire economy has declined since 2000:
Obviously if people are retiring then we would expect the EPR to decline as well. However, the prime age working population, which is far less impacted by structural changes in the laborforce such as retirement, has declined for both men and women:
And for those with a college degree:
The paper does note the roll of the 2008 recession on the decline of the LFPR, but minimizes that roll by suggesting the repatagonia girls jacket cheapcession is responsible for just 0.25 percentage points of the 3 percentage point drop from 2007 to the first half of 2014. It tough to argue that the historically high number of marginally attached and part time for economic reasons workers ispatagonia down sweater full zip hoody1 not a larger drive in the decline in the LFPpatagonia guide pants pictureR:
In short, the attempts by the current Administration and its supporters to explain away the decline in the LFPR patagonia down sweater full zip hoody3belie the current state of the labor market as evidenced by the data.
