You know that Your Survival Guy is a fan of Dirty Jobs host, Mike Rowe. Rowe is a proponent of the kind of hard work that made America the world’s greatest economy. Rowe has recently raised the alarm over news that 7 million American men are no longer looking for work and have left the labor pool. Rowe recently discussed the problem with Brian Kilmeade. Watch the interview below:
You can see on my chart below the long-term decline in male labor force participation in America, which has dropped from a peak of 87.4% in 1949 down to 68% today. During the same period of time, female workforce participation has risen from 33.6% to 56.5%. Why are men so willing to leave the labor force while the rise in female labor force participation shows the economy is obviously creating opportunities? Rowe says the country has gone from a “skills gap” to a “will gap,” meaning that men are simply disenchanted with work and are losing spirit.
Action Line: Man or woman, Your Survival Guy’s second “way to wealth” is “Work for as long as you can.” Remaining in the labor force and putting more money in your portfolio during your peak earning years is the best way to secure your retirement. If you’ve been working hard, and need help investing your money, click here to talk with me. In the meantime, get to know me better by clicking here to sign up for my free monthly Survive & Thrive letter.
