U.S. Labor Markets: Longer-term Perspective
Economics in Person features a discussion on aging baby boomers and declining labor force participation.
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- What are the four main categories of workers in the labor force?
0:00 - 0:32
- What is the longer term trend in labor force participation rates? How did the recent recession magnify this trend?
0:33 - 1:08
- How is the dependency ratio defined? Name the two groups that are considered non-working.
1:09 - 1:36
- Mary mentions that in the future we will be looking at approximately how many retired people per 100 workers? How does this compare to our current dependency ratio?
1:37 - 2:18
- In the 1990s what was the potential output for the U.S. economy? What is it currently?
2:19 - 3:00
- Mary mentions two options for increasing potential output. What are they?
3:01 - 3:20
- What are two issues that will challenge policy makers?
3:21 - 3:27
- In what way does a declining labor force participation rate impact the dependency ratio?
About the Speaker
Mary C. Daly is Senior Vice President and Associate Director of Research at the Federal Reserve Bank of San Francisco. Her areas of research focus include labor economics, public economics, and social welfare. See her research page.
Daly, Mary C., Bart Hobijn, and Joyce Kwok. "Labor Force Participation and the Future Path of Unemployment." FRBSF Economic Letter. (September 13, 2010).
Daly, Mary C. and Tali Regev. "Labor Force Participation and the Prospects for U.S. Growth." FRBSF Economic Letter (November 2, 2007).
Zheng, Liu and Mark Spiegel. "Boomer Retirement: Headwinds for U.S. Equity Markets?" FRBSF Economic Letter (August 22, 2011).