This will be the last entry on our discussion on workforce- related information and we have saved the challenging topic for last – the workforce participation rate. To calculate this, you take the number of folks in the workforce – those already employed and those actively seeking work – divided by the total population over 25.
A higher participation rate means more of the population is actively engaged in measured economic activities. A lower participation rate could mean a few t hings: a population with more retirees or disabled individuals, parents who choose to stay at home with their children, students not working, or those working but being compensated with cash.
Milam County’s workforce participation rate hovers just over 50% and this is not a great number. In comparison, Williamson County is around 69%, Brazos County is close to 67% and Bell County is over 55%. Recently, Milam County’s workforce participation rate jumped to 53%.
There could be many rational reasons why someone is not participating in the workforce. Perhaps, they are disabled and physically cannot perform a job. Maybe they are lacking in skills needed to get a job. Or a potential employee needs to care for a loved one such as an elderly parent or young child.
In theory, economic output c ould b e i mproved i f more Milam County residents get engaged in the workforce. Most individuals are rational, economic actors so a low workforce participation rate is not explained away by laziness. Possible solutions could be training for a new skill – this is one of the goals of Rockdale ISD’s new College and Career Center. Or maybe more access to quality, affordable childcare is needed. Sometimes it makes sense for a parent to stay home when the day care bill eats 90% of take-home pay.
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