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Smaller workforces blamed on structural changes

Federal Reserve economists concluded in a new research paper that much of the decline in labor force participation since 2007 is due to long-lasting structural causes such as the aging of the workforce.

By Craig Torres, Bloomberg | Updated on September 04, 2014
People wait in line to sign up for unemployment Wednesday, Sept. 3, 2014, in Atlantic City, N.J. (AP Photo/Mel Evans)

Sept. 4 (Bloomberg) — Federal Reserve economists concluded in a new research paper that much of the decline in labor force participation since 2007 is due to long-lasting “structural” causes such as the aging of the workforce.

Fed officials are debating how much slack is in the labor market. The paper released today casts doubt on whether continued economic stimulus would raise labor-force participation much above its current levels as demand increases.

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