Some 350,000 workers left the workforce in September, according to the U.S. Department of Labor. The civilian workforce has contracted three of the past four months since reaching a record high in May. One reason for the trend is that people out of work for a significant period of time are giving up looking for jobs.
Some people may be leaving the workforce due to a lack of unemployment benefits. The number of people receiving ongoing unemployment benefits fell to a 15-year low in September. Those receiving unemployment benefits in September accounted for less than 28% of all unemployed Americans, down from 31% a year ago and down from 67% in 2010. When benefits expire, unemployed workers tend to either accept lower-paying work or drop out of the workforce.
Wall Street Journal (10/05/15) Eric Morath Read full story