Decreased labor supply is driving the tight US labor market. About 3 million fewer people are working or looking for work today than would be at the pre-pandemic rate of participation in the labor force.
In this issue of the Quarterly Economics Briefing, we address these questions:
- Why is the labor force participation rate down?
- Which workers are or are not returning to the labor force?
- What does lower labor force participation mean for workers compensation?
complete report to learn more.
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