The creation of the Social Security program had no impact on the labor force participation rate because people are not interested in working past the age of 65.

Question

Quizplus · Accepted Answer

The statement is false. The creation of Social Security did have an impact on the labor force participation rate, as it provided retirement benefits that allowed some individuals to retire earlier than they would have otherwise. However, it is also true that many people do choose to retire around age 65 regardless of the availability of Social Security benefits.

The Creation of the Social Security Program Had No Impact