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July 26, 2005
Interesting Post on Labor Force Participation
About a week ago I put up a post about a Paul Krugman column on how the unemployment rate is higher than generally reported. A couple days ago I noticed that we had gotten a trackback ping on that post. It was really too late to update, but I thought that the post was interesting and intelligent enough (not surprising since it comes from a professor of Economics at UCSD) to link separately.
Rather than just look at labor force participation rates across the entire population, as Krugman and his devotees suggest, Professor Hamilton looked at various segments. What he found was that the percentage of men aged 45-54 working has been on a long-term decline that does not appear to be cyclical, that the percentage of women aged 35-44 has hit a plateau, and that the real "losers" in the current job market appear to be mostly teenagers.
Interesting and intelligent post.
Posted by pat at July 26, 2005 12:57 PM
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