U.S News and World Report looks at the labor shortage in Now We Know What Happened To Those Workers Who Dropped Out During The Pandemic…
Now, a new research paper from the Federal Reserve Bank of St. Louis has answers to the question of what happened to all those workers who disappeared from the workforce. Turns out the two main factors were accelerated retirements and, yes, staying home to care for someone.
“To conclude, our analysis of the out-of-labor force activities in the (government data) reveals that shifts toward retirement and home care/family care have driven the shortfall in labor force participation,” says the paper, titled, “Why Are Workers Staying Out of the U.S. Labor Force?”
(free graphic via clipart.com)
