A Simple Reason Why Fewer Americans Are Getting Married

America's young adults aren't rushing to tie the knot, and findings from a new Pew Research Center report suggest that couples are not getting married because 78% of single women want a partner with a 'steady job.'

Unfortunately, with considerable changes in the labor market, the number of available employed men is a rapidly shrinking demographic.

Wendy Wang and Kim Parker from the Pew Research Center write:

As the share of never-married adults has climbed, the economic circumstances faced by both men and women have changed considerably. Labor force participation among men, particularly young men, has fallen significantly over the past several decades. In 1960, 93% of men ages 25 to 34 were in the labor force and by 2012 that share had fallen to 82%.

And among young men who are employed, wages have fallen over the past few decades. For men ages 25 to 34, median hourly wages have declined 20% since 1980 (after adjusting for inflation). Over the same period, the wage gap between men and women has narrowed. In 2012, among workers ages 25 to 34, women's hourly earnings were 93% those of men. In 1980, the ratio was less than 70%.

According to the report based on census data, when millennials reach their mid-40s to mid-50s, approximately 25% of them (a record high share) will most likely still be single.