Labor force participation to begin shrinking again, budget office says

Labor force participation has leveled off in recent years as the job market has improved, but it soon will start falling again and not stop for the foreseeable future, the Congressional Budget Office projected Friday.

In a new report, Congress’ in-house budget agency estimated that the labor force participation rate will begin dropping from 63 percent now to near 60 percent in 2028. That would be a return to early 1970s-levels of workforce participation.