“Because of the decreasing labor force participation rate of youths and the prim
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Question
“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 http://www.bls.gov/opub/mlr/2013/article/labor-force-projections-to-2022-the-labor-force-participation-rate-continues-to-fall-1.htm.
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The labor participation rate is declining in Us Economy day by day. the reason behind is this that major earing age is between 25 to 64 and when these age group people are not taking active participation
In working then there is a fall in labor participation rate. There are many reasons for the fall in labor participation rate. We can see that economic theory related to this says that when there would be more employed people in comparison to unemployed then the labor participation rate would be high. Any person above the age of 16 if seeking employed or is employed then they contribute to labor participation rate. The more number of people aged between 16-64 group are employed or seeking employment then they will contribute to good labor participation but if the people among this age group which is considered as best age for earning are not employed because any reason such as higher studies, family issues then this reduced the labor participation rate as people of earnable age are not employed.
The labor participation rate is a rate, which shows that how many people out of whole population in the economy how many people are employed or actively wants to get employed. It means that people those who have job and those who are trying to get job contribute to labor participation rate and people who are below age of 16 and above age of 64 and who are not working do not contribute to labor participation rate.
There has been a decline in labor participation rate in recent times and its not even expected increase relatively in coming years. We can explain this decline with the help of example like now a days women are less interested in working as compared to 90s because now they feel that raising a kid and staying at home is more good so in this the women workforce is decreasing as they prefer in remaining at home raising kids or looking after old and disabled parents thus this has adversely effected on the labor arte participation rate. Another reason for the decline is that ageing of in America. in America Baby boomers have stared to retire which means that there is decrease in workers and thus decrease in labor participation. Another reason is for the decline is bad economy which is resulting in students to stay in school and not look for jobs and thus resulting in decline in rate of labor participation.
The changes in labor participation rate over the last decades is such that in 1960s it was 60%, in 1980 it rose to 63%, in 2000 it was at its peak 67% but alter in 2001 it started declining and came down to 66% and recently in 2015 it saw a major decline in form of 62%. Thus in this way the labor participation rate has declines over the past decade.
Biblical insight say that a person first need to take care of her child and parents and then anything else so now that people in todays time have started giving importance such scriptures and started following and due to such scripture influences there are women’s who prefer to stay at home and take care of their child and remain unemployed and this they contribute to unemployed section of the society which result into decline in labor participation rate overall.
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