First posted on this back in February of last year:
Different This Time - More on Labor Force Declines
Here is the update with another year of annual data from BLS Series LNU00000000, LNU01000000 and LNU05000000:
In summary, it is clearly different this time, as only 2009, 2010 and 2011 year over year changes show consecutive declines in the size of the labor force and consecutive year over year increases in the not in labor force greater than the increases in population. The pace of the change suggests more than demographics to me, and as Barry R. says, "What say ye?"