The Daily Money: Why are men dropping out of the workforce?

Prime-age working men are leaving the workforce in droves. That's amplifying worker shortages and complicating the Fed's mission to lower inflation. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

The Daily Money ALL THE MONEY NEWS YOU NEED TO KNOW   Thursday, February 23 Happy Thursday! Hopefully, you aren't too hungover from National Margarita Day. Yours truly is still battling out a cold (yes, colds still exist).  Anyway, here are the top stories for today... Facebook is reforming its "prison system".  The social media company says it will now warn users when they run afoul of its rules instead of taking away their posting privileges and tossing them in Facebook jail. For most violations, the first strike will result in a warning. If Facebook removes additional posts, users will lose access to some features. Facebook jail sentences will typically begin after the sixth strike. Here's what else you need to know about its reform. What's happening to the male labor force participation rate? During the pandemic, women left the workforce in droves. But now the tides are turning and men are the ones leaving. In some ways, it's a continuation of a trend that predates the pandemic. But still, it's making it much harder for employers to fill jobs. In January, the share of 25- to 54-year-old men working or job-hunting was at 88.5%, below the pre-pandemic mark of 89.2%. By contrast, the participation rate for women in that age group had climbed to 76.9%, effectively back to its pre-COVID level of 77%. The share of men dropping out of the workforce is problematic for the Federal Reserve since boosting the nation's supply of workers could go a long way toward easing inflation and convincing the Fed to pause its aggressive campaign of interest rate hikes. 📰 More stories you shouldn't miss 📰 Mortgage insurance costs: They are dropping for some new homebuyers. Here's how much you could save. Why it's tougher to find lettuce: Dole cyberattack may be the cause of prepackaged lettuce shortage Purchasing I Bond with tax refund: What to know about rates, deadline, restrictions About The Daily Money Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you. Elisabeth Buchwald is a personal finance and markets correspondent for USA TODAY. You can follow her on Twitter @BuchElisabeth and sign up for our Daily Money newsletter here Why are millions of men leaving the workforce? The share of men, 25 to 54, working or looking for jobs has declined for decades. Here's the impact it's having on the economy and interest rates. Could you handle more than one full-time job? More than a third of... Subscription fatigue: Consumers weighed down by subscription costs Meta, McKinsey & Co. to cut thousands of jobs, reports say Gannett posts fourth-quarter profit after cost-cutting, layoffs Mortgage insurance costs to drop for some new homebuyers Should you buy Litecoin while it's still below $100? Here are 5 sites you can download video games for free Don't max out your 401(k). Do this instead. Credit agencies are making changes that could help more Americans   Problem viewing email? View in browser Unsubscribe • Manage Newsletters • Terms of Service • Privacy Policy/Your California Privacy Rights • Privacy Notice • Do Not Sell My Info/Cookie Policy • Feedback © 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. 7950 Jones Branch Drive, McLean, VA 22102