Why Children and Retirees Have More in Common Than You’d Think…
A few weeks ago my lovely wife and younger daughter, who is still in high school, traveled to Texas for a birthday party. It wasn’t just any party, it was the centennial celebration for my wife’s great aunt.
More amazing than this lady’s longevity is the fact she’s not alone. She and her two sisters (my wife’s grandmother and her two great aunts) all live together, ranging in age from 91 to 100. We call it “the house of little old ladies.”
Funny enough, despite their age and circumstances, these three women are considered part of the civilian non-institutional population, which is the potential labor force. In addition to these little old ladies, the definition also includes my high school-age daughter and her siblings, who are still in college.
That’s the odd thing about the potential labor force: It includes people who have no interest in working, at least not at this stage in their lives.
