BTW, I think that the ever-shrinking labor force participation rate is showing us, loud and clear, that wages aren’t nearly high enough. Those who are able to stay out of the workforce are staying out. Working no longer makes sense when the cost of working (for mothers, in particular, this can be very high) is greater than the wages one would earn.
I expect to see more and more people choosing to consolidate families/housing, retire earlier, and drop out of the workforce to provide caretaking services for the family.
