Let us now take a look at Chart 11. It shows that the trend estimates of the labor force participation rate have declined over the past year or two.
However, it should be noted that, if the recent increase in labor force participation that I explained earlier is sustainable and structural, we should be able in the future to look back and confirm that the actual trend in the labor force participation rate has already stopped declining; as a result, it is quite conceivable that the potential growth rate will be revised upward.