The Labor Movement Of The United States Essay

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Labor force  the measure of the number of people actively involved in the labor market is a topic of concern for economists (Bullard 1). Since the financial crisis and Great Recession of 2009, economists are closely observing the changing nature of the labor force in the United States, in an effort to understand sources of future economic growth. This topic is of major interest because of its sharp decline after the Recession of 2007-2009, in comparison to the Great Depression. Labor force participation rate is a ratio in which the labor force is divided by the civilian non-institutional population 16 years of age or older. During an economic recession, unemployed workers get discouraged and stop looking for employment, dropping the participation rate drastically. Labor force participation used to be relatively low, it decreased during the 1970s 1980s, and 1990s, rising in 2000 and declining once again in late 2000 (Bullard 4). “In early 2007, 66% of Americans were in the labor force. After the recession struck, participation tumbled, falling to 64% by 2012. By September 2015 it had hit 62.4% its lowest since 1977” (“The Force Awakens”). However, throughout this year the number of employment has risen as result of increasing participation from Americans into the labor force, pushing the rate back up .6%. This means that the economy has created 215,000 net new jobs in March, decreasing unemployment from 5.1% in September 2015 to 5% in April 2016 (“The Force Awakens”).

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