Since the start of the 21st century, per capita growth dropped to less than half its previous 1950-2000 tempo. With the rate creaking along now at just over 1 percent per annum, incomes would take more than 60 years to double; from 1980-1999, the doubling pace was 31 years.<\/p>\n
A significant factor in modern America\u2019s slower growth \u2014 and the lower expectations it unforgivingly imposes \u2014 is the drop-off in work. The country is aging, of course, but population graying does not explain the collapse of employment for men of the 25-54 prime working age (women\u2019s labor force participation rates have been declining too, but not as steeply). Nor can it account for the anomalous emergence of a peacetime labor shortage in post-pandemic America, even as workforce participation rates remain stuck well below pre-pandemic levels.<\/p>\n
Instead, these are manifestations of a troubling, once unfamiliar but now increasingly entrenched syndrome. Call it the \u201cflight from work.\u201d<\/p>\n
Although the unemployment rate for prime-age men in August was a mere 3 percent, only 86 percent reported any paid labor. The remaining 11 percent were labor-force dropouts \u2014 neither working nor looking for work. These \u201cnot in labor force\u201d men, who now outnumber the formally unemployed by more than 4 to 1, are the main reason that the country\u2019s prime male work rate has been driven below its 1940 level \u2014 when national unemployment rates were nearly 15 percent.<\/p>\n
Astonishingly, yes, the United States has a Depression-scale work problem.<\/p>\n
Read it all<\/a>.<\/p>\n The United States has a Depression-scale work problem. The prime-age male work rate is below its 1940 level. Labor-force dropouts are the main reason, Nicholas Eberstadt of @AEI<\/a> writes in a guest opinion. https:\/\/t.co\/GIPxUJ4Df3<\/a><\/p>\n — Washington Post Opinions (@PostOpinions) September 21, 2022<\/a><\/p><\/blockquote>\n \n