From the NY Times: Millions of men like Mr. Beggerow — men in the prime of their lives, between 30 and 55 — have dropped out of regular work. They are turning down jobs they think beneath them or are unable to find work for which they are qualified, even as an expanding economy offers opportunities to work.
About 13 percent of American men in this age group are not working, up from 5 percent in the late 1960’s. The difference represents 4 million men who would be working today if the employment rate had remained where it was in the 1950’s and 60’s.
“These are men forced to compete to get back into the work force, and even then they cannot easily reconstruct what many lost in a former job,” said Thomas A. Kochan, a labor and management expert at the Sloan School of Management at Massachusetts Institute of Technology. “So they stop trying.”
This adds to the data that the unemployment rate is much higher than the numbers that our government is quoting.