Why Many Aren't Celebrating Low US Unemployment - ABC News: Even with 5.8 percent unemployment and even though more than five years have passed since the Great Recession officially ended, this phenomenon has yet to take hold. Most workers' pay is barely keeping up with historically low inflation.
"People aren't looking at the statistical aggregates," said Bill Galston, a senior fellow at the Brookings Institution. "They care about their standard of living, and most Americans think their standard of living has declined."
Look, too, at the percentage of adults either working or searching for work. It's a measure called labor force participation. The government counts people without jobs as unemployed only if they're seeking work. If more people stop looking, labor force participation falls
No comments:
Post a Comment