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Classic Economist to miss the story behind the story: "The working-age employment rate (the share of 16- to 64-year-olds in a job) was at an all-time high in o
by tompccs 5y ago
Classic Economist to miss the story behind the story:
"The working-age employment rate (the share of 16- to 64-year-olds in a job) was at an all-time high in over half of rich countries."
Yes, because about half the population - women - who previously weren't counted as part of the "work force" are now counted.
However, looking at males alone, they have been dropping out of the workforce at an alarming rate: https://www.statista.com/statistics/191725/us-male-civilian-labor-force-participation-rate-since-1990/#:~:text=This%20graph%20shows%20the%20male,participated%20in%20the%20job%20market https://www.statista.com/statistics/191725/us-male-civilian-....
The Pandemic seems to be an acceleration of the latter trend, and perhaps a partial reversal of the former, with more women deciding to exit the workforce either temporarily or permanently.