Why have so many American men given up on work?
CBSN
Many men in the U.S. leave the labor force when their earnings decline compared with their better-paid peers, new research shows. The study found that more men drop out when when workers' relative earnings fall.
The findings, from the Federal Reserve of Boston, help explain a trend economists have been puzzling over for decades: Why so many men have given up on the idea of holding down a job. Roughly one in nine men ages 25 to 54, an individual's prime working years, are out of the labor market today; that compared to one in 50 in the mid-1950s.
The trend has been driven chiefly by working-age men without college degrees who are exiting the labor force at higher rates, according to the study. Since 1980, workers without a four-year college degree have seen their earnings steadily erode relative to their college-educated peers, the findings show.
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