You forgot to mention the the lower participation rate also includes a significant number of people who have dropped out of the labor force indefinitely. BTW, did you miss the part of Trump's speech last night advocating paid family leave and affordable child care?
You realize that his 'affordable child care' plan is a scam, right? It's a tax deduction for child care expenses which only helps you if you itemize, and most people don't, especially the people who need help with their child care expenses the most. It's yet another tax break for wealthy people that does nothing for the people who actually need help with child care. (shocking, I know)
