Mllions of workers who dropped out of the job market during the last economic slump were supposed to jump back in once things turned around. But more than six years after the Great Recession ended, the missing millions are increasingly looking like they’re gone for good.
The nation’s labor participation rate — defined as the share of the working-age population that is either working or looking for work — hasn’t budged from a 38-year-low of 62.6% this summer. And most experts don’t see an upswing on the way.
The reasons include the nation’s aging population, swelling ranks of people on disability and changing nature of jobs. But one of the biggest factors has to do with men in the prime of their work lives, particularly those with less education.