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Prime Age Participation Pushes Further Above Pre-Pandemic Levels

US DATA
  • The participation rate was unchanged in April at 62.6% as expected, or declined slightly to 2dp from 62.62 to 62.56%.
  • It masked a 0.2pp increase in the prime-age participation rate to 83.3% for a new recent high as it pushes further above highs seen just before the pandemic and is at highest levels since 2008.
  • Latest offsetting moves come from a sharp pullback in the 16-24 group having closed the gap to pre-pandemic levels in Fed/Mar (-0.8pps to 56.1%) plus a further trend decline in 55+ participation back to late 2021 levels as early retirees are less easily tempted back (-0.2pps to 38.4%).

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