In: Psychology
Labor force participation in US grew from 61 million in 2050 to 141 million in 2000 , which will reach up to 190 till 2050. Overall growth rate for 1950-2000 was 1.6 % while projected for 2000-2050 is 0.6 .
Women labor force participation has increased from 34 in 1950 to 60 in 2000 and reaching maximum to 62 in 2010, with annual growth rate of 2.6 % for 1950-2000. After this , it is likely to decrease to 57 by 2050.
Agewise change in pattern is also visible in women labor force.
Projected decline after2010 is due to the assumption that changes in participation rates will approach zero by 2015, combined with the gradual movement of an aging female labor force into age groups that traditionally have lower participation rates.
Between1970 and 1980, the labor force participation rates ofwomen in the 25–34 and 35–44 age groups increased by
20.5 percentage points and 14.4 % respectively , highestever among all the age group . Moreover , for agegroup 16-24 for 1970-80 the participation rate of women icreased by 10.6 %.
From 1980 to 1990, the participation rate for women in the 35–44 age group increased by 11.0 %, and the
rate for women in the 45–54 age group increased by 11.3 % It is projected that rates for three age groups 25–34, 35–44, and 45-54 , will remain above 80% .