Between 2000 and 2015, the employment rate for lower-skilled men and women between the ages of 21 and 55 fell by 7.5 percentage points. (I’m going to refer to “lower skilled” as anyone with less than a bachelor’s degree.) To be concrete, just over 84 percent of lower-skilled men aged 21–55 had a job in 2000. That number was under 77 percent in 2015. A 7.5 percentage point decline in employment rates is a massive change relative to historical levels. What I also want to stress is that the decline has been persistent. It was falling prior to the recession, fell sharply during the recession, and has barely rebounded after the recession.
– Erik Hurst, Chicago Booth Review, Sept. 1, 2016