The chart needs a bit of explaining. This is standard unemployed/underemployed that go into the u-6 plus all the people that are no longer in the work force because they cannot find employment.
Till 2000, the ratio of (people not in the work force)/(Total Labor Force) was steadily declining and had reached a figure of 48%, and this ratio had been declining since 1948. Suddenly, after 2000, this ratio has steadily increased. So id I subtract the low point from the ratio, I get the amount of adjustment needed for the U-6 to assume the same labor force participation that existed in 2000. I add this back to the U-6 to get my corrected U-6.
The decline in the ratio was obviously coming from the addition of increasing number of women to the work force. The increase in the ratio can come from two possible sources.
1) An increase in perceived family wealth, so that one partner decides that it is no longer necessary to work. or
2) People can no longer find a job, no matter how hard they try.
You be the judge as to which of the above two factors apply.