9 million+ Americans remain unemployed. You may be one of them. If so, you may also belong to a subsection of unemployed called Discouraged Workers, those who want to work and would accept a job if offered, but have given up the search. Job search is not easy! But because Discouraged Workers haven’t looked for a job in the last 4 weeks, they are not counted in the unemployment rate. Illogical but true,
How Many Discouraged Workers Exist?
Approx. 617,000 (For comparison, 600,000/May; 565,000/April)
4 Reasons for Discouragement
- Unemployed for so long; “no suitable jobs”.
- Inadequate schooling/training needed to get a good job.
- Age discrimination. (Largely, 55 or older.)
- Race or Gender Discrimination (In 2020, 60% were men)
So what’s the big deal? Aren’t we all feeling a bit “discouraged” as the country gets back on its feet?
Not exactly. Higher numbers of Discouraged Workers can reduce the labor force participation rate (LFPR), indicate structural weakness in the job market, affect interest rates, and wreak basic havoc on other fundamental areas of our economy. Fortunately, when job opportunities improve, many Discouraged Workers return to work.
This personal example may resonate with you – a family member has been out of work almost since the start of COVID, and is still unemployed because he won’t accept a job below an hourly rate he feels he deserves. I say $15-$18 an hour is $600 – $720 a week he’s not making now! But he sees it differently. How do you see it?
#jobsearchbetter #laborshortage #economyrecovery
Writing Exceptional Resumes for Executives and Middle Management • I Speak Fluent LinkedIn! Profile Makeovers for Job Seekers and LinkedIn Content, Marketing and Management for Small Businesses