Part 8/11:
Looking over a longer timeline, employment growth has been steady but slowing. As of June 2025, nearly 160 million Americans are employed—up from pre-pandemic levels—but considering population growth and demographic shifts, the employment-to-population ratio has declined from its peak of around 60.3% in 2023 to below 60%. This decline is partly attributed to aging populations, notably the retirement of baby boomers, but also reflects the ongoing impact of automation reducing the demand for human labor.