Friday, March 7, 2014

When People Give Up Looking for Work, What Do They Do? - Wall Street Journal - WSJ.com

When People Give Up Looking for Work, What Do They Do? - Wall Street Journal - WSJ.com: Even though February saw more people returning to the labor force, the percent of the population working or looking for work remains near a 30-year low due to millions of dropouts during the recession.

A Deutsche Bank analysis of Federal Reserve and Labor Department data shows a big chunk of those dropouts – 5.5 million – are retirees. But nearly three million others are counted as disabled and the number of people applying for Social Security disability benefits has spiked in recent years. Others have simply given up looking, likely because they’re discouraged by their job prospects.

No comments: