6/23/16 – Not Working
According to the Bureau of Labor Statistics, there are more people listed as “not in the labor force” than at any other time in history. BLS also reports there are more job openings than ever before. Wait, what?
How can a record number of people not be working while at the same time, there are record job vacancies?
Hereâ€™s what’s happening behind the headlines.
Generous welfare benefits provide strong incentives for some people to not work. What was once considered a safety net has become a way of life. Our nation is creating a group numbering in the millions who believe they have a right to stay home and use free cable while others work to support them. This is why much of Europe is facing economic collapse.
Many states pay around $40,000 a year in public benefits. This is before Medicaid is taken into consideration. Why get a job when working Americans will subsidize your lifestyle?
Then there’ a category BLS calls “discouraged workers.” These people literally can’t find a job with their skill sets. They’ve completely given up looking.
Some might be like Joe. He quit his well-paying job, and went back to school. He got a master’s degree in puppetry. Perhaps it was shock to Joe when “saddled with new college debt” he couldn’t land a job as a master puppeteer.
Those follow your dream speeches offered by graduation commencement speakers sound cute. But oftentimes are unrealistic.
Follow Behind the Headlines on Twitter at @BehindTheHead.
Follow Mark on Twitter at @MarkHyman.
Join us on Facebook.