Afternoon Must-Read: New York Times: Prosecute Torturers and Their Bosses
Liveblogging World War II: December 30, 1944: Off Luzon

Morning Must-Read: Evan Soltas: Falling Labor Force Participation Update

Evan Soltas reports one of the smaller estimates of the permanent labor-side hysteresis damage done to the American economy by the Lesser Depression: 1.2/60 = 2% permanent decline in the American labor force relative to the previous trend. Something to make my less pessimistic on New Year's Eve Eve...

Evan Soltas

Evan Soltas: Falling Labor Force Participation Update: "The top-line result is that...

...of the 3.1 percentage-point decline in the participation rate between March 2007 and March 2014, 1.9 p.p (three-fifths) is explained demographic change and 1.2 p.p (two-fifths) of it is unexplained by demographic change. Of the explained portion, almost all of that (1.6 p.p.) is aging..."