The overall labour force participation rate peaked at 67.1 per cent from 1997 to 2000. After the recession of 2001, it started trending downward. In the aftermath of the 2007–09 recession, the overall labour force participation rate dropped sharply and continued its decline, registering at 62.7 per cent in 2015. It changed little in 2016, growing by 0.1 percentage point to 62.8 per cent.
As a result, from its peak in 2000, the labour force participation rate had declined by 4.3 percentage points by 2016. Source: Projections overview and highlights, 2016–26, (October 2017), Monthly Labor Review, retrieved from https://www.bls.gov/opub/mlr/2017/article/projections-overview-and-highlights-2016-26.htm.In this threaded discussion, complete the following:
Discuss economic theory related to the quote above. Be sure to include a definition of Labor Force Participation Rate (LFPR) within your discussion. Locate and incorporate outside research that gives evidence and explanation as to the possible causes of these declines in the Labor Force Participation Rate. Integrate biblical insights into your discussion board thread. In what way does scripture influence our decision to work?
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