Why is that year significant?
And ypu do realize the labor force participation rate has been going down for 14 years now?
78 well because it's the lowest it's been in 36 years going from your link the years on that go from 2004-January of this year and from 2004 through most of 2008 the numbers are fairly consistent some variations of course but not a huge drop.Then you get to the end of 2008 and the big meltdown from November of that year the drop really started to change and has not gotten really any better in the following years.
Of course you realize that the current 63% is higher than anytime before 1978, so unless you want to claim that we're better off now than anythime before 1978 you'll realize it's not a telling indicator.
Not a huge drop from 2000-2007, but a steady drop and a slight uptick, but generally down.
How well do remember the 70s? It would take very little to make now better than then both the economy back then and the current one are two of the worst in my lifetime. No matter how we see the 2000-2007 numbers the drop has grown greatly under Obama and some of that does come from the meltdown when he first took office but not the majority of it.