Can America Self-Correct?


Jared Bernstein

Senior Fellow, Center on Budget and Policy Priorities

Can America Self-Correct?
Posted: 8/26/11 08:48 AM ET

I ran into a couple of articles Thursday that got me thinking about a big, important topic: the mismatch between supply and demand in the labor market. And not just the cyclical part since the Great Recession took hold, but the structural part the pre-dated it.

The first piece, by Bloomberg’s Mike Dorning, documents the long term decline in the employment rates (share of the population employed) of “prime-age” — 25-54 — men. The employment rate is the economist’s first proxy for labor demand, and the long-term, structural decline for men suggests demand shifts against them, especially those without college degrees.


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