Explaining the Decline in the U.S. Employment-to-Population Ratio: A Review of the Evidence
Abraham, Katharine G. and Melissa S. Kearney ,
NBER working paper series

This paper first documents trends in employment rates and then reviews what is known about the various factors that have been proposed to explain the decline in the overall employment-to-population ratio between 1999 and 2016.  Population aging has had a notable effect on the overall employment rate over this period, but within-age-group declines in employment among young and prime age adults have been at least as important.

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