We continue to live in a country with two very different stories to tell. In one of the stories, we have a country with a very low unemployment rate and a record in the stock market. In the other story we live in a place where 95,385,000 Americans are not in the labor force. This new record was reached in the latest set of data released by the Bureau of Labor and Statistics (BLS). This is a bigger issue than most would like to admit. Many older Americans are drawing substantially from the government and we now have a younger American population working in low wage positions. This is a new record that isn’t something to be proud about.
Another record of those not in the labor force
The number of Americans not in the labor force is troubling when you dig deep into the data. Part of this is being governed by Americans retiring but millions of these people are falling into this category for harder to characterize reasons.
This post was published at MyBudget360 on Nov 11, 2017.