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Keeping US Workers in the Game

With unemployment at a near-historic low, US policymakers might think they don't need to worry about the state of the American workforce. But they would be wrong: without far-reaching measures to expand opportunities for education and reskilling, severe skilled-labor shortages will become inevitable.

BERKELEY – Though the unemployment rate and jobless claims are currently lower than at any point since 1969, the US economy is still facing labor-market challenges that cannot be ignored. One stands out: the long-term decline in the US labor-force participation rate (LFPR) – a key factor in future growth.