Participatory

In June, at 62.6%, the US labor force participation rate remains slightly below pre-pandemic levels. Participation among younger workers, those aged 16 to 19 years has recently decreased, and at 36.3% participation is more than 4 percentage points lower than in early 2020. However, among what is considered the prime aged group for workers, those aged 25-54, at 83.5%, participation is the strongest in 20 years. Moreover, for women in the prime aged cohort, the participation rate hit a record high of 77.6% in May 2023.

Source: US Bureau of Labor Statistics, July 2023