Why is the labor force participation rate important to an economy? How has the labor force participation rate changed over time in the US? What are some major economic and
demographic trends that have affected it?

Explanation:

After trending up for more than three decades, the labor force participation rate peaked at 67.3 percent in early 2000. Over the next few years, the rate receded to about 66 percent and stayed at that level through 2008. The participation rate then dropped again, and by mid-2016, it stood at 62.7 percent.

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