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Labor market robust but changing

Reporting on labor market changes for Yahoo Finance, Adriana Belmonte found that "[T]he US labor market remains robust after largely recovering from the pandemic, though the makeup of that labor force has changed in significant ways." She asked Faculty Associate Katharine Abraham, a former Bureau of Labor Statistics (BLS) commissioner, about nuance in reports of strong labor market growth: 

"At older ages, it’s the most educated people who are less likely to be working,” she said. "It’s not the people without a college degree. It's the people with a college degree or a graduate degree who are less likely to be working." Financial flexibility is involved. “If the world has gotten more threatening and there’s reasons not to want to be going into work, they can make that choice,” she noted.

"Prime-age workers are flooding back into the workforce. Older workers are staying home", Yahoo Finance, Adriana Belmonte, May 12, 2023