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Yellen’s Job Puzzle: Why Are 20-Somethings Retiring?

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WEB Notes: So if you are a part of the 35% of the population that is not working you are considered “retired”. Nice spin.

How come more people are retiring in their early 20s? Why are middle-age men becoming stay-at-home dads? What’s keeping women out of the workforce other than illness, kids or school?

Those are some of the questions raised in a new Bureau of Labor Statistics report that shows changes over the past decade in why people stay out of the labor force. Finding answers is key for the Federal Reserve as it maps the contours of a job market that’s becoming harder to predict with the aging of the baby boomers and shifting household priorities.

Here’s what the bureau found, broadly: Thirty-five percent of the U.S. population wasn’t in the labor force in 2014, up from 31.3 percent a decade earlier. (You’re considered out of the workforce if you don’t have a job and aren’t looking for one. That’s distinct from the official unemployment rate, which tracks those out of work who are actively job hunting.)

Source: Yellen’s Job Puzzle: Why Are 20-Somethings Retiring? – Bloomberg Business

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1 Comment

  1. I read this article yesterday and thought the same thing…nice spin. These folks aren’t retiring, they are not working. There lives are also being partly if not mostly funded by the taxpayer through unemployment benefits and various other subsidies.

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