Labor force participation (LFP) refers to the percentage of the working-age population (usually 16 or 15+) that is either employed or actively seeking work, reflecting the available human resources for producing goods and services; it's a key economic indicator influenced by aging demographics, education levels, economic cycles (like recessions or pandemics), and social factors, with the US rate around 62-62.4% recently, down from its 2000 peak due to trends like baby boomer retirements and increased college enrollment. 
 
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