Actually I feel like this is all I’ve heard about since ~2010, especially in context of men falling behind women. It’s like the post-recession secret that everyone keeps (re)discovering.
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Not rediscover. Anyone who pays attention has known this forever, the mystery is why it doesn't go mainstream. And you're clearly not normie here :)
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Also, your charts have different scales and start at different places. How does it look if they share a scale?
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Not my charts. From some site
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On making the unemployment rate great again: https://research.stlouisfed.org/publications/economic-synopses/2014/04/17/accounting-for-discouraged-workers-in-the-unemployment-rate/ …
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There has been a lot of attention paid to U3 vs U6 http://www.businessinsider.com/jan-hatzius-stresses-u-6-unemployment-2014-1 … Which rate people prefer to talk about has a lot to do with whether their party is in power, if they favor stimulus, extending unemployment, etc.
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Eh. Just multiply U-3 by a scaling factor, and you consistently get U-6 - ×1.75 or so before 2013, ×2 or so since. The change in factor might mean something important happened around 2013, otherwise both rates have the same information content.
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In demographically challenged countries, such as Finland, it is talked about quite a lot as a motivation for why benefits get worse and well-paid people should not downshift despite progressive tax leaving them with marginally higher income, cause you need to take it for the team
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Because we already knew leading-edge Baby Boomers were reaching retirement age, which was going to drop participation rates? Same with women joining the workforce increasing rates in '70s-'80s?
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The workforce participation rate is completely unchanged by simple policy prescriptions like kicking people off of unemployment insurance, mainly.
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