Question/Prompt: "Because of the decreasing labor force participation rate of youths and the prime age group, the overall labor force participation rate is expected to decline. The participation rates of older workers are projected to increase, but remain significantly lower than those of the prime age group. A combination of a slower growth of the civilian noninstitutional population and falling participation rates will lower labor force growth to a projected 0.5 percent annually." (Labor Force Projections, 2013)
In your thread, complete the following:
- Discuss economic theory related to the quote above. Be sure to include a definition of Labor Force Participation Rate (LFPR) within your discussion.
- Locate and incorporate outside research that gives evidence and explanation as to the possible causes of this decline. Provide an example of the changes in labor force participation rates over the last decade.
- Integrate biblical insights into your thread. In what way does Scripture influence your decision to work?
Labor force projections to 2022: the labor force participation rate continues to fall (December 2013), Monthly Labor Review, retrieved from https://www.bls.gov/opub/mlr/2013/article/labor-force-projections-to-2022-the-labor-force-participation-rate-continues-to-fall-1.htm.