Are We Retiring a Little Early?

The longer the expansion, the more likely it is some of those people who are retired, or did retire, temporarily come back to the labor forcea. So we think that eventually that participation rate does start to return. The probability of people over the age of 55 returning is lower than the possibility of prime age workers who say they're retired returning. And and it does bring us to this sort of long term a so called deficit of consumption, which is one of the reasons why we've had the disinflation and deflation of the last several decades. When we don't have an entire group of people in our economy fully employed, we are missing out on a lot of gt p.