Please reload

ARCHIVE

Please reload

BLOG TAGS

CATEGORIES

Men Leaving Labor Force in Droves

October 10, 2016

Here’s a surprising and disheartening statistic – men aged 25 to 54 currently have the lowest labor force participation rate than at any time since 1940. That’s when the Great Depression was ending!

That runs counter to what we hear – that unemployment is under 5 percent and we’re nearing full employment.

 

But the truth is altogether different.

 

In fact, roughly one in every six men aged 25 to 54 have no job and aren’t looking for one, so they’re not counted as unemployed (wrongfully so in my opinion). In other words, millions of men have no work skills and no way to get them, so they can’t get a job and are essentially giving up.

 

If this continues, 20 percent of prime working-age men will be out of the labor force in a generation. And even scarier is that African American men are twice as likely to be in this situation.

 

Unfortunately, this has been a long time in the making. Over the last half-century, the percentage of men who are 20-years-old or older and have no paid work has risen from 19 to 32 percent. Official unemployment for the group jumped from 6 to 16 percent during the same time period.

 

So who are these men?

Generally, they’re largely native born, less educated, never married, and African American. Only 10 percent of these men try to improve their situations. The rest are neither employed, in education or training (also known as N.E.E.T.) and spend 3,000 hours yearly on leisure through TV, video games and socializing.

 

If 20 percent of the work force disappears, it begs two questions. Who will fill the jobs? And what will happen to the N.E.E.T. men?

 

Any answers to those questions likely won’t benefit America, so something must change.

Share on Facebook
Share on Twitter
Please reload

CONTACT US

Pennsylvania Office

P (610) 358-8942

F (610) 358-8943

Delaware Office

P (302) 449-0111

F (302) 449-1888

OUR LOCATIONS

51 Woodland Drive
Glen Mills, PA  19342


291A Carter Drive
Middletown, DE 19709

SOCIAL MEDIA

CONTACT US

Check the background of your financial professional on FINRA’s BrokerCheck.

This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Andrew Wood, Dan Simon and Alison Slezak are Investment Advisor Representatives. Advisory services are offered through CoreCap Advisors, LLC., a Registered Investment Advisor. CoreCap Advisors, LLC and Daniel A. White & Associates, LLC are separate & unaffiliated entities. 

© 2018 Daniel A. White & Associates, LLC. All right reserved. Built by Atwood Sites.

CALL US TODAY!
PA OFFICE: (610) 358-8942
DE OFFICE: (302) 449-0111