Labor Force Participation Rate | 55 Yrs+ | 25-54yrs | 65+ No disability |
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Women | Men | High School, No college, 25+ | College, 25+ |
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The labor force participation rate is still below the pre-pandemic level. Though most of that shortfall is in the 55+ workforce, specifically in 65+ (the labor force participation rate for 55-64 is back to pre-pandemic levels). Prime-age labor force participation is almost back to the pre-pandemic rate.
Some of the decline for 55+ is just aging of that workforce (older adults have lower participation rates), and some of it is early retirement from the labor force from the pandemic labor dislocations.
When you look across sex, women's labor force participation has recovered more than men's.
Across education, the labor force participation rate for those with only a high school diploma hasn't recovered as well as the rate for those with college degrees or higher.
We also are "missing" immigrant workers due to the pandemic's effects on migration, which is likely part of why the labor market is so tight, especially in some particular industries.