The age distribution of the population can strongly influence overall labor force participation. Baby Boomers are naturally contributing to the decades-long-decline since the participation peak of 67.3% in early 2000.The pandemic also pushed more than 3 million Baby Boomers into premature retirement.
The youngest generation should be making up the difference, but about half a million Gen Zers are missing from the workforce. So, the question remains: where are the Gen Z workers?