So, in posts during the last year or two we've debated the reason that the U6 workforce participation number was rising.
Here's a reason that I'm pretty sure we didn't discuss:
The nearly fourfold increase in opioid prescriptions from 1999 to 2015 could account for 20 percent of the overall decline of men in the U.S. workforce during that time period, according to the report, “Where Have All the Workers Gone? An Inquiry into the Decline of the U.S. Labor Force Participation Rate,” by Princeton University economist Alan B. Krueger.
In 2015 alone, the opioid and prescription painkiller addiction epidemic resulted in 33,000 American deaths, particularly impacting rural areas in the Northeast, Appalachia, and the Midwest, according to the report.
“Labor force participation has fallen more in areas where relatively more opioid pain medication is prescribed, causing the problem of depressed labor force participation and the opioid crisis to become intertwined,” Krueger writes.