I think it is, but I don’t know how much of a difference it makes.

The first part is easy: the number of people who are able to work and want to work (the labor force participation rate) has fallen dramatically since 2000. The second part isn’t quite as simple, because there are two ways that GDP can grow: by increasing productivity or by adding more workers. In fact, these two things have been happening at the same time — we haven’t seen any big increase in worker productivity over this period — but they aren’t exactly the same thing
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