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No.
The labor force participation rate among working-age Americans is higher than before the COVID-19 pandemic and higher than the lowest level recorded.
The rate refers to people working or actively seeking work.
Here are the rates for ages 15 to 64 at key points:
70.4%: lowest on record, 1977
77.4%: highest, late-1990s
74.1%: 2019
73%: 2020 (pandemic declared in March)
75%: 2023
Considering people 25-54, the lowest rate was 64.8% (1948); the rate was 83.3% in 2023; the peak was 84.1% in the late 1990s.
Republican Eric Hovde, who is running against U.S. Sen. Tammy Baldwin, D-Wis., said the rate among working-age Americans is at a record low.
His campaign did not reply to requests for information.
Retirees and students have reduced the overall labor participation rate.
The U.S. Chamber of Commerce says pandemic-caused early retirements, lower net international migration and lack of child care have created a labor shortage.
This fact brief is responsive to conversations such as this one.
Sources
Federal Reserve Bank of St. Louis: The Labor Force Participation Rate, Explained
Federal Reserve Bank of St. Louis: Infra-Annual Labor Statistics: Labor Force Participation Rate Total: From 15 to 64 Years for United States (LRAC64TTUSQ156S)
U.S. Centers for Disease Control and Prevention: CDC Museum COVID-19 Timeline
Federal Reserve Bank of St. Louis: Labor Force Participation Rate – 25-54 Yrs.
Ben Shapiro: The War On Truth | Eric Hovde
U.S. Chamber of Commerce: Understanding America’s Labor Shortage
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