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Shortage of Young Men in US Job Market Raises Economic Concerns: Experts Warn of Tripled Non-participation Rates and 2022 GDP Drop

(photo: Rappler)

The lack of young men in the job market is worrying for the economy, affecting industries, government services, housing, and welfare programs requiring solutions like job training and mentorship.

Shortage of Young Men in American Job Market Sparks Economic Concerns

The American job market is experiencing a shortage of young men which experts warn could have long-lasting effects on the economy. Over the past two decades, the number of prime working-age men not working or looking for work has tripled to 11%. This trend is causing problems for industries, government services and social safety nets, according to the report of Business Insider.

This decline in male workforce participation is already impacting the economy with a drop in GDP per employee in 2022 for the first time in over 30 years. The overall labor force participation rate is also at its lowest since the 1970s. Important industries like infrastructure and manufacturing are struggling to find enough workers especially as women may face social stigma in these fields.

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(photo: CNBC)

Impact of Declining Male Workforce Participation on Housing Market and Welfare Programs Raises Economic Concerns

Declining male participation in the workforce impacts the housing market and strains welfare programs. Solutions involve job training and mentorship but the trend poses serious challenges for individuals and the economy.

READ ALSO: Georgia Considers Income Tax Reduction And FairTax Adoption: Balancing Economic Growth With Revenue Concerns

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