Labor market issues.
Labor market issues: The debate between the Washington post’s Jim Tankersley and Ben Casselman was primarily about the decline in participation of the U.S labor force.
Ben Casselman proposed that the reason behind the decline in the number of people working or looking for work in the U.S is declining due to short term factors. Mr. Tankersley of the post insists that it is due to structural or long-term factors.
Both parties are of the idea that the participation had to decline from the peak in the late 90s. They accredit the peak to the aging of the baby boom generation. This is a big problem as this rise in participation, particularly among women was the major driver of development and economic growth in the last half of the 20th century.
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The two parties could however not agree as to the degree of severity of the threat caused by this decline in participation of workers in their prime age. These include those of between ages of 25 and 54. Ben Casselman insists that once the economy improves, the participation peak of 84.1% in 1997 can be reached once again and therefore the decline will have little long-term effect.
The opponent, Mr. Tankersley explains that as people go to college, many Americans start working late. Many other factors make people work later. They include: worse pension and better medicine. Fewer people are therefore going to participate in the labor market for a long time to come.
This debate looks into the current problem facing the labor market in the U.S. both parties however agree that this problem is just a distraction from the threat of high joblessness in the U.S.
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