Friday, October 2. 2009More uglinessTrackbacks
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This chart may be misleading, reflecting not just a change in economic conditions, but a demographic change. People born between 1945 and 1950 are now in their 60s, and retiring. I would like to see the chart with population 18-62 as the denominator. Best would be a chart of employment of 25-55 year old people divided by 25-55 year old population.
I think you have a point, but not because folks now in their 60s are retiring. I do agree that you want to focus on the prime earnings years of 25-54, to elide changes in youth unemployment and retirement age.
Turns out it's just as ugly, if not uglier, but it's not available as a quick-and-easy FRED2 chart. You have to hit the BLS tables. Employment-Population Ratio - 25-54 yrs. was 62.6% in January, 1948, back when women did not work. That ratio hit a local peak of 80.2% in early 1990 and troughed at 78.1% in 1993. It stayed above 81% from July 1997 to March 2001. It hit a local peak of 80.3% in January, 1997. It is currently a little over 75%. It's ugly out there. |
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