You will find more statistics at Statista
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In his September 2017 paper entitled ‘Where Have All the Workers Gone? An Inquiry into the Decline of the U.S. Labor Force Participation Rate’, Alan B. Krueger of Princeton University explores the dramatic fall in labor force participation in the U.S. from 1997 to 2017. As our infographic shows, over the last twenty years, the rate has fallen the most for the under 20’s, with the share of 16 to 17 year olds in work dropping by 18.4 and 16.2 percentage points for men and women, respectively.
As Krueger reports, last year, Italy was the only OECD country which had a lower participation rate of prime age men than the United States. One of the reasons posited by the research is the opioid crisis currently ravaging the country. Labor force participation rates have fallen more in areas where more opioid pain medication is prescribed. According to the Centers for Disease Control and Prevention, the amount of opioids prescribed in 2015 was three times higher than it was in 1999.
As noted in the paper, while the direction of causality is not clear, a 2017 report by David Mericle entitled ‘The Opioid Epidemic and the U.S. Economy’ states that “the opioid epidemic is intertwined with the story of declining prime-age participation, especially for men, and this reinforces our doubts about a rebound in the participation rate.”.
Huh, no shit ehh? The 55-65+ range is all the boomers looking at their retirement savings saying “fuck. we ain’t got enough savings cause we spent it all on stupid shit”
The 35-54 range are all the X-ers muddling through life, wondering why the fuck they aren’t getting ahead.
The millennials are clueless and the 16-24 crowd don’t work because who wants to pay people with no skills $15/hr plus obama care? This when they can hire their geriatric parents and grandparents who can still function.
Fuck, we got enough savings but 0.01% interest rate on savings says keep working because it’s harder for The Grim Reaper to hit a moving target. Anyway I love the work I do. None of the muddlers or millenials want to do the challenging work I do, and if they did, most don’t have the training, experience or common sense to get the job done.
As for the opioid epidemic, napalm the poppy fields in Afghanistan and start jailing drug company executives until morale improves.
Robert (QSLV)
So which came first. Was it mass immunization causing chronic pain? Check out the research. Or was it opioid availability. How much chronic pain is iatrogenic?????
Most chronic pain comes from having a BMI of 35 or higher.
Iatrogenic, thanks for the addition to my vocabulary Doug. The son of a friend, morbidly obese, did not have chronic pain, but did visit many doctors and obtained the script to feed his addiction. Thankfully, after 4 major accidents in a year, he is now clean. I suspect that a great number of the addicted non participants in the labor force is due to poor opportunity coupled with the entitlement, trophy for all, dumb down education mentality prevalent in the younger age groups. That, and what Brian said.
Hagar- The level of dumb is mind boggling out in the real world with regard to the 20/30 year olds attempting to fill positions in real estate and finance today. They seem baffled that they are expected to prepare and plan for closings as if these things just happen by magic. Perhaps they will catch on eventually.
Being in the 65+ group of the graph, I feel I should go ahead and throw in the towel before it is all a complete train wreck.
Correct, BL. A good paying job requires above average intelligence an a lot of hard work. You better love what you’re doing.
Robert (QSLV)