While the unemployment rate continues its slow decline and job creation chugs along, a very telling chart from the St. Louis Fed (reproduced and enhanced below) shows how the percentage of men (RED line) who are employed has fallen during, and not recovered after all US recessions in the past 50 years. The percentage of employed men has fallen from 84.4% in 1952 to 64.4% in May 2012, while the percentage of employed woman has increased from 33.7% to 53.2%.
Employment trends, especially short-term trends, are key drivers in the apartment industry. I’m not sure what impact this long-term trend will have, but it would seem to have some effect on household formation.
And the data and chart-making tools at the St. Louis Fed site are pretty cool.
(Hat tip to Slate’s Moneybox blog)