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I should say the reason I went with the annual averages is smoothing. I did not want to run seasonal adjustments for there are unique elements to those adjustments per subject and in this case it appears by age as well.
The goal was to remove as much seasonality as possible to show the real trend.
Employment is amazingly seasonal and different age groups have different levels of seasonality. This is scary actually since to survive we need full time, full year round jobs.
Ages 16-19 are extremely seasonal and reflected in labor participation rates.
After I ran these numbers I was actually surprised at the labor participation rates of those over age 65. I think that's a combination of the new reality "work till you drop" and also people are simply more healthy, more able bodied these days and are perfectly capable of working this long.