dartsndeacs
THE quintessential dwarf
“The opioid epidemic is intertwined with the story of declining prime-age participation, especially for men, and this reinforces our doubts about a rebound in the participation rate,” Goldman Sachs’ Jan Hatzius said.
The labor force participation rate (LFPR), or the percentage of working-age people who are either working or actively looking for work, currently stands at 62.7%. This is significantly below the 67% level reached 20 years ago, and it’s the second lowest among OECD countries.
Importantly, the share of prime-age men (ages 25-54) in the labor force has declined significantly. The participation rate for this population has tumbled from 98% in 1954 to 88% currently.
Economist Alan Krueger has shown that almost 50% of prime-age men not in the labor force take pain medication every day. This is confirmed by data cited by Goldman Sachs, which showed out of all admissions to substance abuse treatment services, 47% of individuals not in the labor force were admitted for opioids.
That last one is crazy to me, glad I never got on pain meds.
https://www.yahoo.com/finance/news/opioid-crisis-hurting-prospects-u-s-labor-market-153023883.html