"Often the difference between a successful man (woman) and a failure is not one's better abilities or ideas, but the courage (faith) that one has to bet on his (her) ideas, to take a calculated risk, and to act." Maxwell Maltz. Please share this blog. Please make comments about your own struggles (we all have them) and success. This will encourage others and help them follow in your successes, however small. Click on "Home" at the bottom to see the index.
Tuesday, November 11, 2014
Not Looking for Work, Labor Force Participation and Recovery
Not Looking for Work, Labor Force Participation and Recovery: The post-recession economy has undergone the slowest recovery in 70 years. In addition to more than 6 percent unemployment five years after the recession officially ended, labor force participation has fallen sharply since the recession began in December 2007. Today, 6.9 million fewer Americans are working or searching for work. The drop in unemployment since 2009 is almost entirely due to the fact that those not looking for work do not count as unemployed. Demographic factors explain less than one-quarter of the decreased labor force participation. The rest comes from increased school enrollment and more people collecting disability benefits. Over 6 percent of U.S. adults are now on Social Security Disability Insurance. This is no time to make it more difficult for businesses to create jobs.
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