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<br />B. Labor Force Participation Rates <br /> <br />I <br /> <br /> <br />K..'$:.-....5. <br /> <br />f~~ <br /> <br />002910 <br /> <br />1. Women's Participation Rate <br />At least one reviewer questioned the partici,pation rate for <br />women as being too high. We used the participation rates pro- <br />jected by Cooper and Johnson of the Bureau of Labor Statistics <br />probably the foremost authorities on this subject. <br /> <br />".- - ~. .., . <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Il <br /> <br /> <br />2, Early Retirement <br />Will early retirement plans reduce output? <br />While-many retirement systems are geared to rather early <br />retirement the retirees do not necessarily withdraw from the <br />labor force. The relevant questton is whether or not th~re is <br />a trend toward participation in the labor force during a smaller <br />portion of one's physically capable working years. We.knowof <br />no persuasive evidence that there is such a trend. <br /> <br />~- ~.~ <br />";':-'-"l;"'~~ <br /> <br />C. More Leisure <br />The question was raised as to whether the trend toward <br />longer vactions whould not reduce the hours worked per year. <br /> <br />The OBERS projections are specific as to the hours of work <br />per year per man. The number of hours worked per year is <br />projected to decline. The projected decrease could take the <br />form either of fewer hours per week or fewer weeks per year. <br />The latter would imply longer one piece vactions. The former <br />might imply longer week end vacations. <br /> <br />In general, OBERS is conservative in. projecting an average <br />decline of .25 percent per year in hours worked. It is believed <br />that a drastic reduction in hours worked is likely to be illustory <br />in that large amounts of leisure will stimulate either moonlighting <br />or recreational pursuits which merge into avocations which are <br />productive in the income sense. <br /> <br /> <br />6 <br /> <br />,:j>l~ <br />~.,*~.~ <br /> <br />I <br />~~:~:!; <br /> <br />':;:~~:'.::/< <br />~~}~{;~~t~ <br /> <br />D. The Full Employment Assumption <br />Concern was expressed that the full employment assumption <br />would assume away that part of the planning objective having to <br />do with improv.ement. of economic conditions in. areas of high <br />unemployment. <br /> <br />~:':~:':J'-':::'_' <br />-~.' -';'. ..... <br />~~~f~~~~~~ <br /> <br />""~'. . <br />~\,,::'::')~ <br />~"o;-.~~,.,.:. <br />. <br />.-.-;'.." ,;;: <br /> <br />