One factor may be that an increasing number of men delayed the age of marriage, which allowed women to marry later in life without them worrying about the quality of older men. Other factors include the changing nature of work, with machines replacing physical labor, thus eliminating many traditional male occupations, and the rise of the service sector in which many jobs are gender neutral. Another factor that may have contributed to the trend was the Equal Pay Act of 1963, which aimed at abolishing wage disparity based on sex. Such legislation diminished sexual discrimination and encouraged more women to enter the labor market by receiving fair remuneration to help raising families and children. At the turn of the 21st century, the labor force participation began to reverse its long period of increase. Reasons for the change include a rising share of older workers, an increase in school enrollment rates among young workers, and a decrease in female labor force participation.The labor force participation rate can decrease when the rate of growth of the population outweighs that of the employed and the unemployed together. The labor force participation rate is a key component in long-term economic growth, almost as important as productivity. A historic shift began around the end of the Great Recession as women began leaving the labor force in the United States and other developed countries.
However, inflation had reached 7.8%, and the following year, it reached a nine-year high of 9.5%; leading to increased interest rates.Another recession occurred from 1990 to 1992. Unemployment began to increase, and by the end of 1992, nearly 3,000,000 in the United Kingdom were unemployed, a number that was soon lowered by a strong economic recovery. With inflation down to 1.6% by 1993, unemployment then began to fall rapidly and stood at 1,800,000 by early 1997. 21st century
The official unemployment rate in the 16 European Union (EU) countries that use the euro rose to 10% in December 2009 as a result of another recession. Latvia had the highest unemployment rate in the EU, at 22.3% for November 2009. Europes young workers have been especially hard hit. In November 2009, the unemployment rate in the EU27 for those aged 15–24 was 18.3%. For those under 25, the unemployment rate in Spain was 43.8%. Unemployment has risen in two thirds of European countries since 2010.Into the 21st century, unemployment in the United Kingdom remained low and the economy remaining strong, and several other European economies, such as France and Germany, experienced a minor recession and a substantial rise in unemployment.In 2008, when the recession brought on another increase in the United Kingdom, after 15 years of economic growth and no major rises in unemployment. In early 2009, unemployment passed the 2 million mark, and economists were predicting it would soon reach 3 million.