Work & Labor Force
Paid work is one of the important activities in our lives. Most directly, work yields the income we need to provide for ourselves and our families. Our employment also partially defines who we are and can be a source of dignity, respect, and fulfillment. It is one of the main ways in which we interact with people outside our families and make contributions to society as a whole. People spend more of their lives working than in any activity other than sleep.
Summary of Results
Our metrics on the US workforce show mixed success. We have low long-term unemployment, and we rank above 50% of other high-income countries, and are improving globally, on hourly earnings growth. However, we are in the bottom half of high-income countries—and declining globally—on employment and labor force participation rates. These last two trends are driven by declining workforce participation among men combined with slower growth than peer countries in workforce participation among women. Explanations include declining interest and opportunities in work among men, some of which are related to weak wage growth for working people, and safety net programs that may discourage work.
Related Topics
The above discussion connects our measures of work and labor to many other topics covered in this report. We discuss the connection between wages and productivity and how GDP is heavily dependent on the size of the labor force in the Economy section. We also note how delay and decline in marriage is related to workforce participation (see the discussion of the percentage of children growing up with a single parent in the Children and Family section). Finally, we discuss why our wage growth and productivity measures might be higher than our education levels (see the Education section).
Other Measures Considered
All four of the measures voted on for this topic were supported by the board.