Macroeconomics Report: Examining the American Workforce Composition

This macroeconomics report provides an analysis of the American workforce, drawing on data from the Bureau of Labor Statistics (BLS). The report highlights key demographic trends, including the racial composition of the workforce, with a focus on the dominance of white Americans and the growing presence of Hispanic and Asian populations. It also examines labor force participation rates across different racial groups, noting the varying levels of participation among different demographics. Furthermore, the report references the "Baby Boomers" theory to suggest potential shifts in the workforce composition by 2044. The analysis provides a comprehensive overview of the current state of the American workforce, offering valuable insights into its dynamics and future trajectory.

Running head: Macroeconomics
Macroeconomics
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1Macroeconomics
American workforce is one of the largest in the world with 150 millions of workers
(Gordon, 2015). It includes white Americans, Black Americans, Asians and Hispanic population
in its workforce that provides it diversity. Considering the given information regarding the
American workforce, various interesting things have been found, which are mentioned below:
Workforce is mostly composed of white people:
BLS report of the US workers portrays that, depending upon the race, white Americans
compose mostly of its workforce. With 79% among total workforce, white people enjoys major
share in the labour market. Besides this, the report display that Black and Asian people makes up
only 12% and 6% of the total workforce ("Labor force characteristics by race and ethnicity, 2015
: BLS Reports: U.S. Bureau of Labor Statistics", 2018). This can tend to a catastrophic
polarisation in the workforce, however the same report portrays that the population of the
Hispanic and Asian people are rising at a steady rate. This can alter the present situation of the
workforce and according to the theory of Baby Boomers, by the end of 2044; there will no
majority of any group in the US workforce (Bradley, 2015).
Participation of labour force tells different story:
BLS report showcase that the white Americans are the largest group of the US workforce,
however, they have the third lowest workforce participation rate. Native Hawaiians top the list
with 66.6% participation rate and it portrays that with rise in participation in the workforce by
the Native Americans, time has come that the employment status of the country is changing
("Labor force characteristics by race and ethnicity, 2015 : BLS Reports: U.S. Bureau of Labor
Statistics", 2018).

2Macroeconomics
Reference:
Gordon, E. (2015). Our jobs: The American workforce and economy in crisis. Career Planning
and Adult Development Journal, 31(2), 65.
Labor force characteristics by race and ethnicity, 2015 : BLS Reports: U.S. Bureau of Labor
Statistics. (2018). Bls.gov. Retrieved 14 January 2018, from
https://www.bls.gov/opub/reports/race-and-ethnicity/2015/home.htm
Bradley, J. (2015). The Changing Face of the Heartland: Preparing America's Diverse
Workforce for Tomorrow. Brookings Institution Press.