Fleets reluctant to mandate vax, but it might not matter

September 8, 2021

Many surprising things have happened in the last 19 months, but the number of people currently sitting on the labor pool sidelines is one I would have never seen coming.

According to the Bureau of Labor Statistics, the labor participation rate is sitting at near record levels – near record for how low it is.

At just under 62%, the current labor participation rate is more than 5% lower than it was 20 years ago and only about 1.5% higher than it was in the depth of the pandemic. By comparison, about 5 million job openings have been added in that same time, and the BLS currently estimates there are more than 10 million non-farm job openings in the U.S.