1. The article: What is the Labor Force Participation Rate Formula offers a good review of some labor market indicators and a discussion of historical trends in the labor force participation rate LFPR in the United States. It also has some great sources if you click on "Article Sources" at the end.

https://www.thebalance.com/labor-force-participation-rate-formula-and-examples-3305805

Read the article, then answer the following questions:

a What was the LFPR in 1948? ___________________

b. It reached its peak in January 2000 at ________%

c. What has happened to the LFPR since 2000 (be specific!) and what reasons are cited for this development?

d. What are the long-term implications of this decline? Why might we be concerned?

2. Read the following: https://www.thebalance.com/what-is-the-real-unemployment-rate-3306198 Explain the difference between the "standard (official)" and the "real" unemployment rate. How have the rates compared in recent years?