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From Home Furnishing Business
Fast Fact: Labor Force Rates Decline into 2026
July 16,
2018 by Laurie Northington in Business Strategy, Economic News, Industry 
Projections from the Bureau of Labor Statistics show labor force participation rates declining into 2026, regardless of age, gender, or race.
Falling from 66 percent in 1996 to a projected 53 percent in 2026, more young people (ages 16 to 24) are staying in school and attending college – delaying workforce participation. Rates among 25 to 54 year olds have trickled down but all are expected to be above 80 percent in 2026, while older people (ages 55 to 64 and 65 to 74) are choosing to stay in the workforce longer.
Among men and women, the rate for men is projected to fall 11.6 percentage points to 66.2 percent by 2026, while women are expected to be down to 56.1 percent – a decrease of 5.4 percent from 1996.
Workforce participation rates are showing a decline among all race and ethnic groups from 2016 to 2026 with the exception of Hispanics, who have more of its adult population under the age of 65 than any other race or ethnic group and are less impacted by the aging workforce.
For an in-depth look at the data, click here.