Why have 7 million men dropped out of the labor force?
The Department of Labor recently reported that the labor force participation rate for prime age men (age 25 to 54) dropped to 66%! About 1/3rd of men or approximately 7 million have dropped out of the labor force all together. This is a shocking statistic. There is no doubt that the country, overtime, will feel the absence of these men in a very profound way. The big question right now is how did this happen? There is not one single issue or event but a compounding of changes over many decades that led to this point. The loss of America’s manufacturing base in the 60s, 70s, and 80s, the…
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