The Congressional Budget Office projected that the US labor force would be larger than it is today by 5 million. This article speculates on the whereabouts of the missing 5 million workers. Perhaps one third are discouraged workers who were unable to find work and stopped looking, the others might include retirees, those on disability, or young people who decided to continue their education.
One of the implications is that the potential GDP of the US economy is smaller that it would be with 5 million additional workers. The US GDP today is around the same as it was in 2007. It would be much higher today if the missing 5 million were employed.
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