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Aging Baby Boomers Reduce Jobless Rate, Matus Says

Unemployment in the U.S. may fall faster than expected as baby boomers enter retirement, reducing the portion of people in the workforce, according to Drew Matus, senior U.S. economist at UBS Securities LLC.

Labor force participation has fallen to the lowest level since 1984, largely because older people are leaving the worker ranks, Matus said today in a radio interview on “Bloomberg Surveillance” with Tom Keene. If participation remains this low, employers need to create fewer jobs to reduce the unemployment rate, currently at 9 percent.