Source: Bureau of Labor Statistics. Men between the ages of 25 and 54 are in their prime working years. Generally speaking, they’re too old for college and too young for retirement.
In February 2008, 87.4 percent of men in that demographic had jobs.
Six years later, only 83.2 percent of men in that bracket are working.
This employment rate is an important indicator of the health of the labor market. I’ve written repeatedly that overall job growth has roughly kept pace with population growth since the recession. Nothing less; nothing more.
Even so, the unemployment rate has steadily declined. In other words, fewer Americans are looking for work even though the share with jobs isn’t changing.
Part of the reason is demographic. The Baby Boom is aging into retirement. Part of the reason is economic. People who can’t find jobs eventually give up.
Focusing on working-age men is a way of judging how much of the problem is economic. The employment rate in this group reached a low point of 80.4 percent in late 2009, so the February rate of 83.2 percent represents real progress.
On the other hand, it means the nation is not even halfway to a full recovery.
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