This Friday, a new jobs report will come out.
If the Wall Street consensus is correct, it will show the unemployment rate continuing to hover around 5% while nonfarm payrolls will grow about 180,000 for the month.
But that won't tell the whole story.
Nicholas Eberstadt, a fellow at the American Enterprise Institute, argues in a new book called "Men Without Work," due out next week, that we're suffering not from full employment, but massive underemployment — in particular, nearly one out of six working-age men have no job and are no longer looking for one.
A release for his book calls this "a hidden time bomb with far-reaching economic, social and political consequences."
With 10 million fewer male workers in the labor force than we should have, it's hard to disagree..."
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