Not to play devil's advocate here, but we should naturally see a decline in the employment participation rates. Baby boomers are retiring and nearing retirement. There are 10-15% more of them than the younger generations, so unless we bump up immigration, the labor participation rates should drop.
I know in the case of my mother, she lost her job in 2009 at the age of 61. Since then she's taken up part time jobs (underemployed) and now that she is 65 she is on social security and able to live off that, thus off the rolls.
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