The following article was written by Gene Epstein for the September 2, 2013 edition of Barron’s. I think it is the best and most even handed analysis of labor force participation rates I have read to date. I would highlight that many people have the misperception that the record high labor participation rates are good for the economy. However, the fact is that high labor participation rates mean families having less time together and Baby Boomers working longer and postponing their retirement years.

There will always be some nonparticipation from our working age adults, whether it is due to retirement, disability, or the ambition of a parent to stay home for their growing family. What policymakers and decision makers must be discern is what part of labor nonparticipation is due to positives in the life of Americans and what part of labor nonparticipation is due to negatives in American life such as inability to find work.

http://online.barrons.com/article/SB50001424052748704287804579036880551442754.html