Dennis Cauchon of the USA today doesn’t have great news reporting that “Only 45.4% of Americans had jobs in 2010, the lowest rate since 1983 and down from a peak of 49.3% in 2000. Last year, just 66.8% of men had jobs, the lowest on record.
Working-age men have been dropping out of the labor force for decades. The disappearance quickened when construction and manufacturing jobs vanished in the recession from December 2007 through June 2009. Until the 1960s, more than 80% of men worked.
The trend of women getting jobs offset the loss of working men until the late 1990s. The share of women holding jobs rose from 36% in 1960 to 57% in 1995, then leveled off. The rate was 56% in 2010.
Another big change: the bulk of those not working has shifted from children to adults.
In 2000, the nation had roughly the same number of children and non-working adults. Since then, the population of non-working adults has grown 27 million while the nation added just 3 million children under 18.
The aging of 77 million Baby Boomers born from 1946 through 1964 from children to workers to retirees is changing the relationship between workers and dependents.
Why does this matter… because retirees generally are more costly to support in the system than children.
Bottom line: It costs more for Metamucil than Gerbers and that matters because your tax dollars are paying for the fiber!