If you look at Labor force participation rate you will see some
surprising statistics.
Yup that is scary. Look at the crash since the end of the housing
bubble. There isn't even a significant bump since the end of 2008. All
the housing boom did was flatten the curve a little. It has really
been falling since the end of the tech bubble.
Liable to get worse too. Bernanke will print more money, creating more
hidden inflation, people will acquire less stuff, so fewer jobs are
needed. Pretty good chance like Japan's lost decades this will continue
for the foreseeable future.
You are not liable to get dumber. That's really not possible.