>Indeed. Something to note is the labor force participation rate keeps dropping. We’re down to 61.4%. It was 61.5% in June 2026, 62.3% in June 2025.

Yes, it's called people getting older and retiring. It's pretty obvious that's the cause if you compare the labor force participation rate overall vs for 25-54 year olds.

https://fred.stlouisfed.org/series/CIVPART

https://fred.stlouisfed.org/series/LNS11300060

Also net population loss of working age adults via deportation and self deportation.