job growth

Job growth and jobless young men under each president

Eric Garland Economic trends, Labor Trends, Political Trends 0 Comments

Check out two labor trends in U.S. economics, and then we can talk trends in U.S. politics.

Consider the rate of unemployment under each president since Carter.

jobless-rate-1976-2016

Now let’s look at a labor trend at record levels: young men 19-30 without jobs.

unemployed-men-21-30-no-college

 

 

It’s fascinating that while there is a cyclical nature to the trend of “great recessions” post-Carter and post-Bush, the trend in young men without college continues to climb.

The thing is, we’re not reducing the number of men that age. We’re not changing the expectations of men in society. However, the job creation is going through a radical, likely permanent change.

I think of a couple of implications: basic minimum wage, and extreme politics. One seems more attractive than the other.