This is a demographic trend, not an economic one; the decline in the employee-to-population ratio reflects the fact Baby Boomers, a disproportionately large generation, have broadly reached retirement. The prime age (25-54) employee to population ratio is at its highest level since early 2001
This is a very telling analysis
https://substack.com/@peternaylandkust/note/c-71702165?r=2w9z3a&utm_medium=ios&utm_source=notes-share-action
There is a devil in the detail.
“One of the most significant trends the data conveys is that of decreasing work.
How do we know this? When we look at the ratio of employed individuals to the overall population, that is exactly what we see.”
P Kust
This is a demographic trend, not an economic one; the decline in the employee-to-population ratio reflects the fact Baby Boomers, a disproportionately large generation, have broadly reached retirement. The prime age (25-54) employee to population ratio is at its highest level since early 2001