Reuters: Financial Services and Real Estate: Aging, discouraged workers behind US labor changes-Fed's Dudley

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Aging, discouraged workers behind US labor changes-Fed's Dudley May 24th 2012, 18:17 NEW YORK | Thu May 24, 2012 2:17pm EDT NEW YORK May 24 (Reuters) - Demographic factors like an aging labor force, as well as more discouraged workers, are the likely behind the drop in the U.S. participation rate, New York Federal Reserve President William Dudley said on Thursday. The participation rate, a measure of how many Americans are looking for work, fell in April to a 30-year low at 63.6 percent of the population, as more people dropped out of the workforce. But Dudley also expressed optimism that the high national jobless rate, at 8.1 percent, would drop and that permanent "structural" factors are not as serious as some people worry they are. (Reporting by Jonathan Spicer)

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