Monday, Oct. 21, 2024
Is the percentage of working-age Americans in the labor force at an all-time low?
The labor force participation rate among working-age Americans is higher than before the COVID-19 pandemic and higher than the lowest level recorded.
The rate refers to people working or actively seeking work.
Here are the rates for ages 15 to 64 at key points:
70.4%: lowest on record, 1977
77.4%: highest, late-1990s
74.1%: 2019
73%: 2020 (pandemic declared in March)
75%: 2023
Considering people 25-54, the lowest rate was 64.8% (1948); the rate was 83.3% in 2023; the peak was 84.1% in the late-1990s.
Republican Eric Hovde, who is running against U.S. Sen. Tammy Baldwin, D-Wisconsin, said the rate among working-age Americans is at a record low.
His campaign did not reply to requests for information.
Retirees and students have reduced the overall labor participation rate.
The U.S. Chamber of Commerce says pandemic-caused early retirements, lower net international migration and lack of child care have created a labor shortage.
This fact brief is responsive to conversations such as this one.
Sources
- Federal Reserve Bank of St. Louis The Labor Force Participation Rate, Explained
- Federal Reserve Bank Of St. Louis Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for United States (LRAC64TTUSQ156S)
- U.S. Centers for Disease Control and Prevention CDC Museum COVID-19 Timeline
- Federal Reserve Bank Of St. Louis Labor Force Participation Rate - 25-54 Yrs.
- Ben Shapiro The War On Truth | Eric Hovde
- U.S. Chamber of Commerce Understanding America's Labor Shortage
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Fact briefs are bite-sized, well-sourced explanations that offer clear "yes" or "no" answers to questions, confusions, and unsupported claims circulating online. They rely on publicly available data and documents, often from the original source. Fact briefs are written and published by Gigafact contributor publications.
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