Relevant:
- A Record 95.5 Million Americans Not in the Labor Force:Â One-third of Working Americans Supports the other two-thirds
- 34% of all Americans now financially support the rest of the country
- April jobs: Unemployment rate falls to the lowest since 1969, But not-in-workforce surge to fresh high
- France's Relentlessly Deteriorating Unemployment Fiasco
- 4 reasons why consistently strong hiring is failing to boost US inflation or wages
2018-06-02 — zerohedge.com
... in May, the number of people not in the labor force increased by another 170K, rising to 95.915 million, a new all time high... Adding to this the 6.1 million currently unemployed Americans, there are 102 million Americans who are either unemployed or out of the labor force (and it is also worth noting that of those employed 26.9 million are part-time workers).
In other words, contrary to prevailing economist groupthink, there is a lot of slack in the economy, and if as the latest Beige Book revealed, employers are now hiring drug addicts and felons to make up for the shortage of qualified candidates, a long time will be pass before wages see significant gains.
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