LF=E+U Labor force participation rate=LF/P Unemployment rate=U/LF The official unemployment rate understated the real condition of unemployment. Discouraged workers, hidden unemployed Labor force participation rate, Hours of work in the u.s The participation rate of men declined from nearly 90 percent in 1900 to 76 percent by 1990 An ever-larger fraction of men choose to retire earlier7 LF=E+U, Labor force participation rate=LF/P Unemployment rate=U/LF The official unemployment rate understated the real condition of unemployment. Discouraged workers, hidden unemployed. Labor force participation rate, Hours of work in the U.S. The participation rate of men declined from nearly 90 percent in 1900 to 76 percent by 1990. An ever-larger fraction of men choose to retire earlier