If you read only one article today, it has to be Nicholas Eberstadt's "The Idle Army of America's Unworking Men" in the Wall Street Journal. Despite what you might hear from politicians, we aren't anywhere near full employment. Eberstadt writes:

Labor Day is an appropriate moment to reflect on a quiet catastrophe: the collapse, over two generations, of work for American men. During the past half-century, work rates for U.S. males spiraled relentlessly downward. America is now home to a vast army of jobless men who are no longer even looking for work—roughly seven million of them age 25 to 54, the traditional prime of working life.

This is arguably a crisis, but it is hardly ever discussed in the public square.

The phenomenon of a significant number of men who don't work and looking for work for a job is new:

Until roughly the outbreak of World War II, working-age American men fell into basically two categories: either holding a paid job or unemployed. There was no “third way” for able-bodied males.

Today there is one: neither working nor seeking work—that is, men who are outside the labor force altogether. Unlike in the past, the U.S. is now evidently rich enough to carry them, after a fashion. The no-work life hardly consigns these men to destitution.

Without work to give their lives form, dignity, and a paycheck, these unworking men settle into a kind of permanent leisure:

What do unworking men do with their free time? Sadly, not much that’s constructive. About a tenth are students trying to improve their circumstances. But the overwhelming majority are what the British call NEET: “neither employed nor in education or training.”

Time-use surveys suggest they are almost entirely idle—helping out around the house less than unemployed men; caring for others less than employed women; volunteering and engaging in religious activities less than working men and women or unemployed men. For the NEETs, “socializing, relaxing and leisure” is a full-time occupation, accounting for 3,000 hours a year, much of this time in front of television or computer screens.

. . .  Clearly big changes in the U.S. economy, including the decline of manufacturing and the Big Slowdown since the start of the century, have played a role. But something else is at work, too: the male flight from work has been practically linear over the past two generations, irrespective of economic conditions or recessions.

What we might call “sociological” factors are evident, not least the tremendous rise in unworking men who draw from government disability and means-tested benefit programs.

Slow growth, welfare dependence, unsustainable government spending, and the inability of the unworking men to form stable families and become involved in civic life are among the results of this new  trend.