In 2007, 63 percent of working-age Americans held jobs. By 2014, only 58 percent held jobs. Some of the change happened because more people reached retirement age. Most of the change is because of the weak economy. Things are slowly getting better.
Older men and women are staying longer in their jobs. They are worried about having enough money to retire. In fact, a greater number of older people are working than before the Great Recession began in 2007.
This may affect the chances for younger people to find work.
Men age 20 to 24 went from 70 percent of the work force in 2007 to 59 percent in 2010. Now they are back to 63 percent.
Men age 25 to 30 went from 86 percent of the work force in 2007 to 77 percent in 2010. Now they are holding steady at 80 percent.
For men age 30 to 39, the changes were less extreme.
In almost all age groups, women did better than men during the downturn. This may have happened because women went back to work to supplement their husbands’ incomes. Also, many jobs were lost in male-dominated industries such as construction.
Source: The New York Times May 10, 2014