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What Has Driven the Labor Force Participation Gap since February 2020?

Mary Amiti, Sebastian Heise, Giorgio Topa, and Julia Wu The U.S. labor force participation rate (LFPR) currently stands at 62.5 percent, 0.8 percentage point below its level in February 2020. This “participation gap” translates into 2.1 million workers out of the labor force. In this post, we evaluate three potential drivers of the gap: First,…

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