As an economist, I think if we look at all things being equal, increased participation in the workforce is a positive.
We see in Japan, for example, a long-term issue in terms of labour force participation. It's an open question about whether it makes a meaningful difference when it changes, as again we can see Japan as a case study because you can't make necessarily supply changes and expect them to be magic without the demand side pulling people into the workforce. What we think is most important is that we make sure that the demand side is percolating nicely.
You do have a point that our estimates of the trend participation in the labour force are beginning to decline because we're all aging. That's a natural demographic force, of course, and there's very little we can do about that, so across the world we'll have to get used to a lower trend growth rate. Can we make a little difference around the edges? Potentially, but it's pretty hard for me to put any measures against that.