If there's one thing Robert Frost works on constantly, it's the theme of masculinity. He works on it from a different perspective of a Thoreau or a Whitman, but there are still those basic, meaty questions of work, mortality, loss, and man in nature. Hefty stuff, but Frost chooses to tackle these issues through his own experiences in New England. Man's role here is always a contested one—trying to stay warm, finding your path, building relationships with neighbors, working on your mustache, that kind of stuff. In "Out, Out," it's not a man, but a young boy doing man's work—with tragic consequences.
The boy's lack of maturity probably caused the accident—don't do work too late at night, y'all.
The boy's value as a worker makes his family only feel the loss of his work potential when he dies. Bummer.
What's the point of chopping wood? (Other than to measure how much wood a woodchuck could chuck, we mean.) Seriously, these farmers cut wood for their stove to keep warm. It's an essential activity to survival, and the saw helps make that work easier. Keep your eyes open, folks—this is an important one in "Out, Out." There are skills necessary to survive, and the amount of strength you can use as a farm boy indicates how valuable you are.
The boy's work is essential to the family's survival. Go, boy, go (and watch your fingers while you're at it).
The boy was too young to do the work he was doing. For shame, strangely silent parents.
This is a little more specific than just "work." Machines help people do their labor, but they can be deadly instruments. In the case of "Out, Out," we're talking about a saw. There's a lot of blending here between man and machine; machines take on men's work, and so become an extension of man. This is all Singularity-type stuff, people…
The saw kills the boy in the same way that machines will replace our pre-technical innocence. Once we start using them, Frosty is telling us (and wagging his finger), there's no going back.
The saw is just a dumb tool. The real tragedy here is that the boy is viewed by his family as a machine to do labor. Sad, right?
We know, "Out, Out," just gets more and more cheerful, doesn't it? Fear not, though. We're here to guide you through the dark path. Death is an ever-present part of life, but in this poem Frost considers to what degree death haunts work. The boy works to stay alive, and in that effort he dies. Many people think that the poem is an expression of the sentiment that dust returns to dust, and the Macbeth title (along with line 2) reinforces that. One could also read the poem as a commentary on the value of human life amidst industrial production—World War One was raging at the time Frost wrote the poem, and it's certainly possible he had that needless loss in mind.
Frost is doing his own building work here. He constructs death and work as similar in that both are natural parts of life.
From "the other hand" department: death in the poem is an unnatural force that disrupts the family's life and work.