ABSTRACT
Concerns about the US workforce take many forms. The most obvious problems are the rise in unemployment rates and the sharp declines in jobs and the employed share of US adults. As of January 2012, only 58.5% of the US population was working, down from 63.3% in January 2007. The recession hit young people especially hard, causing the employed share of 20–24 year olds to fall 11%. As of late 2011, less than half of 16–24 year olds held jobs. Only four years ago, unemployment rates were less than 5%, well below the OECD-Europe average of 9%. Construction and manufacturing industries have shed the most jobs, with 28% of construction and 16% of manufacturing jobs lost. 1 These industries employ a significant share of non-college male workers, a group that has already experienced stagnant wages for decades.
