April 6, 2014.

The Unemployment Puzzle: Where Have All the Workers Gone?

"Apparently I have."

A big puzzle looms over the U.S. economy: Friday's jobs report tells us that the unemployment rate has fallen to 6.7% from a peak of 10% at the height of the Great Recession. But at the same time, only 63.2% of Americans 16 or older are participating in the labor force, which, while up a bit in March, is down substantially since 2000. As recently as the late 1990s, the U.S. was a nation in which employment, job creation and labor force participation went hand in hand. That is no longer the case.

He put a hand to his forehead and pressed his temples for a moment, as though trying to remember something.

What's going on? Think of the labor market as a spring bash you've been throwing with great success for many years. You've sent out the invitations again, but this time the response is much less enthusiastic than at the same point in previous years.

"These things happen," he began vaguely. "I have been able to recall one instance----a possible instance. It was an indiscretion, undoubtedly. We were producing a definitive edition of the poems of Kipling. I allowed the word “God” to remain at the end of a line. I could not help it!" he added almost indignantly, raising his face to look at Winston. "It was impossible to change the line. The rhyme was “rod”. Do you realize that there are only twelve rhymes to “rod” in the entire language? For days I had racked my brains. There WAS no other rhyme."

One possibility is that you just need to beat the bushes more, using reminders of past fun as "stimulus" to get people's attention. Another possibility is that interest has shifted away from your big party to other activities.