WASHINGTON (AP) — Declaring the Great Recession only partly to blame, White House economists say the increasing number of Americans dropping out of the labor force dampens economic growth and demands policy changes that create more job opportunities and add workers.
In a new report released Thursday, President Barack Obama’s Council of Economic Advisers point to an aging population as the biggest single factor contributing to the lowest participation rate in 36 years. The report also says the elevated unemployment rate, which climbed to 10 percent in 2009, drove workers to put off looking for a job.
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