It’s a fact that unemployment in the US has fallen significantly since the year 2008, this is a welcoming fact for most people. However, accounting for the number of millennial men in the work force, this number has remained significantly minuscule. CNBC had reported this lower number back in November, 2017. The Labor force participation of women is encouraging, as a country where there is more labor force, things can be done quickly which means more prosperity.
The Bank of America economists used the tale of lost male as something to describe this loss of workforce once accounted for the men from group 25-54yo.
As of last year, 22 percent of men between the ages of 21 and 30 with less than a bachelor’s degree reported not working at all in the previous year—up from only 9.5 percent in 2000. Overall, only 88 percent of men between the ages of 25 and 54 are working or looking for work, the third-lowest among 34 developed countries, according to the White House’s Council of Economic Advisers.Chicago Tribune Reported
Thus, it is established that there is a lesser number of millennial men in the workforce as compared to the last years. There must be some factors contributing to this change. There is a cause and effect analogy through which this world works.
One possible reason for this dearth can be Video Games
Meyer and Zhou, those who came up with the tale of the lost male attributed this lesser number of people in the work force to the video games. A new research from the guys at Princeton and University of Chicago shows that men without degrees have replaced their 75% of their time with the habit of playing video games.
- Before 2008, men used to spend 3.4 hours each week for sake of games.
- From 2011 to 2014 the number of men doubled who spent more than 8.6 hours playing games per week.
- Collectively according to stats, America spends 50% more time in playing video games as compared to the past, since 2003.
This can be another way of saying that increasingly amazing and sophisticated games are attracting men to not go to work instead stay at home and play those lucrative games.
Well, do you agree with these stats? I Don’t.