Labor force participation rate is an important indicator of an economy’s health, with a higher participation rate usually being a sign of a healthier economy. More people participating in the labor force means more people supporting those who are unable to work. @OKPolicy
Labor force participation also has fiscal implications. As more people work, more people pay taxes, broadening the tax base. If fewer work, govt must either raise taxes to maintain spending levels or make funding cuts, hurting many of the core services upon which we all rely.
Labor force participation has been declining in both Oklahoma & the country as a whole since the turn of the century. Much of this decline is due to our aging population, while other recent contributing factors are child care responsibilities and COVID-related disabilities.
Workforce investments like expanding access to child care, increasing the value of the Earned Income Tax Credit, and creating a paid family and medical leave program can strengthen labor participation rates and reverse declining state trends. It seems #OKleg does the opposite.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
