The Incredible Shrinking Workforce
[Subscription Required] When the latest jobs report comes out Friday, look beyond the top-line number. For months now economists have suggested that the low unemployment rate—4.1% as of last month’s report—implies that America is at or near full employment. Yet the labor market is still below its pre-recession peak, with about two million jobs missing. Many of those workers have joined the disability rolls. Others have simply dropped out of the workforce in favor of leisure time.
December 7, 2017 via Wall Street Journal via Hoover Daily Report
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