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    pbturn's Avatar
    pbturn Posts: 1, Reputation: 1
    New Member

    Jan 27, 2017, 07:26 AM
    Extremely low Workforce participation rate
    Will workforce participation rate increase as GDP increases from 2% to 3%? Currently the participation rate is low and employment rate is low. The hourly wage rate will need to increase thereby pulling from the current non participating workforce. This seems likely because all of the "talk" about so many retirees having limited retirement savings. Everybody I've seen on the businesses shows seem to believe that the participation rate will continue to decline without accounting for the impact that increasing the GDP rate will have on unemployment rate and the need for more employees.. including retirees who don't have sufficient money to retire who will go back (p/t) if wages go up
    Any economist have a thought?
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
    Uber Member

    Jan 27, 2017, 01:34 PM
    Sounds VERY much like homework...

    And I see a lot of hypothetical situations in there that really have no connections to each other. and a few that have inverse proportional relationships to others which are meant to test your knowledge on their relationships to each other..
    joypulv's Avatar
    joypulv Posts: 21,593, Reputation: 2941
    current pert

    Jan 27, 2017, 01:39 PM
    We are all economists, LOL... such a wonderful career. You don't even have to be right.

    I will say is that I think there are other factors than just the baby boomers, despite their age group 'bulge.' There are ALWAYS other factors, for every aspect of our economy.

    I do wonder what you mean by "The hourly wage rate will need to increase thereby pulling from the current non participating workforce." Please explain that cause-effect word THEREBY? And what do you mean by 'need to increase' the wage rate? Why the NEED exactly?

    I'm the first year, 1946, and I am now 70... wouldn't we be allowing ourselves to be 'pulled back' by now? Of all my peers, only 2 or 3 have kept working, but it's because they enjoy their work.

    I don't know the stats on retirement savings among my group. I have friends who range from having nothing but SS, to very rich. But I don't buy the theory that they are or will be going back to work. None have who I know. Even if I weren't 70, I wouldn't buy it.

    I listen to CNBC all day. For every theory, there is an opposite one, and 5 others too. I enjoy seeing how the predictions pan out.

    I do think the LPR will gradually inch up in a reasonable recovery for now, and then increase more rapidly after we boomers are dead. Depending on all those other factors, of course!

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