{"id":1545185,"date":"2022-07-08T18:19:22","date_gmt":"2022-07-08T22:19:22","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1545185"},"modified":"2022-07-08T18:19:32","modified_gmt":"2022-07-08T22:19:32","slug":"americans-continue-to-opt-out-of-the-workforce","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-continue-to-opt-out-of-the-workforce\/","title":{"rendered":"Americans Continue To Opt Out Of The Workforce"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-continue-to-opt-out-of-the-workforce%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1545185&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>As <a href=\"https:\/\/www.dailywire.com\/topic\/unemployment\">unemployment<\/a> remained at low levels in June, the portion of American adults participating in the <a href=\"http:\/\/dailywire.com\/topic\/jobs\">job<\/a> market remains far below pre-<a href=\"http:\/\/dailywire.com\/topic\/recession\">recession<\/a> levels, according to a Friday news release from the U.S. <a href=\"https:\/\/www.bls.gov\/news.release\/empsit.nr0.htm\">Bureau of Labor Statistics<\/a>.<\/p>\n<p>Unemployment remained at 3.6% for the fourth month in a row \u2014 approximately the same as February 2020, the month before COVID began spreading rapidly through the United States, according to the agency. The unemployment rate has therefore improved significantly from the 14.7% level <a href=\"https:\/\/fred.stlouisfed.org\/series\/UNRATE\">seen<\/a> in April 2020.<\/p>\n<p>Yet the labor force participation rate \u2014 the percentage of people who either have a job or are actively looking for one \u2014 has not recovered since the recession. The metric <a href=\"https:\/\/fred.stlouisfed.org\/series\/CIVPART\">dropped<\/a> from 66% in 2008 to 63% in 2020, then fell another 3% between February 2020 and April 2020 alone as COVID led to government lockdowns and business closures. Men, in particular, have seen a gradual <a href=\"https:\/\/fred.stlouisfed.org\/series\/LNS11300001\">disengagement<\/a> from the labor force since the end of World War II.<\/p>\n<p>As of June 2022, labor force participation is 62.2% \u2014 a slight decline from the 63.3% level seen in May 2022, according to the Bureau of Labor Statistics.<\/p>\n<p>\u201cThere are 755,000 fewer Americans employed today than prior to the pandemic, even as the population age 16 and over has increased by 4.2 million,\u201d Heritage Foundation research fellow and former U.S. Joint Economic Committee senior economist Rachel Greszler said in a statement provided to The Daily Wire. \u201cThis has caused massive struggles for employers and is directly contributing to inflation, as employers have to pay workers more to do the exact same work they were doing before. Yet, even as average earnings are up $3,100 over the past year, the average worker is $1,800 poorer after factoring in a $5,100 inflation tax.\u201d<\/p>\n<p>In 2020, median household income in the United States was roughly $67,500, according to the U.S. <a href=\"https:\/\/www.census.gov\/library\/publications\/2021\/demo\/p60-273.html#:~:text=Median%20household%20income%20was%20%2467%2C521,median%20household%20income%20since%202011.\">Census Bureau<\/a> \u2014 meaning that a $1,800 effective pay cut constitutes a 2.7% decline in the typical household\u2019s earnings. Inflationary pressures have forced some Americans into <a href=\"https:\/\/www.dailywire.com\/news\/bidens-economy-sends-americans-into-unretirement\">unretirement<\/a>, according to job platform Indeed, which recently noted that roughly 3.2% of workers who were retired a year earlier are now employed once again.<\/p>\n<p>Federal COVID stimulus, however, appeared to hamper labor market recovery, thereby worsening inflationary pressures. In March 2021, President Joe Biden <a href=\"https:\/\/www.dailywire.com\/news\/bidenomics-getting-paid-to-stay-home\">enacted<\/a> the American Rescue Plan \u2014 a $1.9 trillion package that extended the $300 weekly bonus unemployment benefits first passed under President Donald Trump through September 2021. Within a few months, half of American governors prematurely opted out of the extension.<\/p>\n<p>A paper published by the National Bureau of Economic Research <a href=\"https:\/\/www.dailywire.com\/news\/surprise-enhanced-unemployment-benefits-significantly-increased-unemployment-study\">confirmed<\/a> that states which left the program saw \u201cthe flow of unemployed workers into employment\u201d increase by two-thirds.<\/p>\n<p>\u201cWhen it comes to maximizing employment,\u201d Greszler continued, \u201cthe unintended consequences of many COVID-19 policies and federal interventions in the workforce demonstrate that while the temptation for policymakers is always to do more, the best way to increase employment is to abandon attempts to expand the government\u2019s influence over people\u2019s lives.\u201d<\/p>\n<p>Republicans on the Joint Economic Committee <a href=\"https:\/\/www.dailywire.com\/news\/report-welfare-is-encouraging-able-bodied-men-to-stay-voluntarily-out-of-work\">noted<\/a> last year that only 12% of \u201cinactive, prime-age, able-bodied men\u201d desire a job or are <a href=\"https:\/\/www.dailywire.com\/news\/young-men-are-more-likely-than-ever-to-stay-jobless-remain-at-parents-homes\">open to work<\/a>. Government welfare programs often disincentivize labor force participation for the demographic.<\/p>\n<p>\u201cEasing the labor shortage and alleviating inflation requires creating an environment in which more Americans want to pursue work and are able to maximize their productive capabilities,\u201d Greszler added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As unemployment remained at low levels in June, the portion of American adults participating in the job market remains far below pre-recession levels, according to a Friday news release from the U.S. Bureau of Labor Statistics. Unemployment remained at 3.6% for the fourth month in a row \u2014 approximately the same as February 2020, the &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1547228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1545185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1545185","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1545185"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1545185\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1547228"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1545185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1545185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1545185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}