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Decline in labor force driven by retirement, not discouragement

There’s a persistent lie making its way through popular media — and often twisted through social media. Like any good lie it starts with a kernel of truth but gradually becomes a clear and open lie. The truth — the labor force participation rate is at a 40 year low, down to 63% from a high over 67%. The lie — that this is the result of people giving up looking for work, a sign that the “recovery” is weak (which can be blamed on President Obama). Read more…

 

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