Yesterday, we looked at the falling labor force participation rate (LFPR) among so-called prime age males … aged 24 to 54 … a range that outboards most students and retirees.
About 10 million men fall into that category – unemployed but not looking for work.
One hypothesis is that the LFPR among prime age males has dropped because – as women have entered the workforce – the men have stayed home to care for family members and do household chores.
According to the Fed’s latest American Time Use Survey, there’s some evidence to support that hypothesis.
In fact, “non-participating prime-age men” spend about 1/2 hour per day more on “household activities & services” than do prime age males who are in the labor force.
But, that’s only a small part of the story ….