Where Are the Jobs?
h/t Congressman Jim Jordan (Chairman of the Republican Study Committee)
As more and more people have learned recently, the official unemployment rate doesn’t actually count unemployed people who have given up looking for work. The above chart offers another look at the jobs data. It shows the “labor force participation rate,” which represents the share of working-age Americans who are either employed or unemployed but looking for work.
As you can see, only 63.7% of working-age Americans are currently in the workforce. The rate hasn’t been that low in almost 29 years! To put it another way, 36.3% of working-age Americans do not have a job and are not even looking.
How much more of this can we take, America?