Millennial Men Failing To Find Jobs Amid Hottest Market In Decades
And as David Dorn, the Zurich Economist touched on, this failure to launch marks a loss of human talent that can carry long-lasting penalties as young men struggle to play catch-up. Economists have even blamed the slide in marriages and out-of-wedlock births on a decline in employed, marriageable men.
25-year-old Nathan Butcher, pictured above, was sick and tired of earning minimum wage at a pizzaria - quitting his job in June. "He wants new employment but won’t take a gig he’ll hate," reports Bloomberg. "So for now, the Pittsburgh native and father to young children is living with his mother and training to become an emergency medical technician, hoping to get on the ladder toward a better life."
Butcher has a high school diploma and a resume stacked with low-wage jobs from places like Walmart and Target. We can't imagine why he's unable to find a higher paying job, however perhaps the saying "the bigger the gauges the lower the wages" applies.
"I’m very quick to get frustrated when people refuse to pay me what I’m worth," Butcher told Bloomberg. Meanwhile, his mother worked to support her three kids, "whether she liked her job or not."
"That was the template for that generation: you were either working and unhappy, or you were a mooch," he said. "People feel that they have choice nowadays, and they do."
In other words, millennials feel entitled to a better job.
There is no one explanation for what’s sidelining men -- data suggest overlapping trends -- but Butcher sits at a revealing vantage point. His demographic has seen the single biggest jump in non-participation among prime-age men over the past two decades: About 14 percent of 25- to 34-year-olds with just a high-school degree weren’t in the labor force in 2016, up from 6.4 percent in 1996, according to Federal Reserve Bank of Kansas City analysis by economist Didem Tuzemen. -Bloomberg
So - are young millennial men choosing to remain on the sidelines until the perfect job presents itself on a silver platter?
Bloomberg even speculates that better video games might make leisure time more attractive, while opioid use is possibly affecting others. Another thought is that "Young adults increasingly live with their parents, and cohabitation might be providing a “different form of insurance,” said Erik Hurst, an economist at the University of Chicago."
Meanwhile, millennial men are reporting higher rates of school and training as a reason for their non-employment, according to a Labor Department survey, while a large percentage say that disability and illness are keeping them on the couch.
If this problem doesn't correct itself, there are going to be a lot of homeless people in the coming decades who have blown through any inheritance their boomer parents left them, should they be fortunate enough to receive one.