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MSN Money
The unemployed
are dropping out like flies
Jeff Cox, CNBC
At a time when 8.5 million Americans still don't have jobs, some 40
percent have given up even looking.
The revelation, contained in a new survey Wednesday showing how much
work needs to be done yet in the U.S. labor market, comes as the labor
force participation rate remains mired near 37-year lows.
A tight jobs market, the skills gap between what employers want and
what prospective employees have to offer, and a benefits program that,
while curtailed from its recession level, still remains obliging have
combined to keep workers on the sidelines, according to a Harris poll
of 1,553 working-age Americans conducted for Express Employment
Professionals.
On the bright side, the number is actually better than 2014, the
survey's inaugural year, when 47 percent of the jobless said they had
given up.
"This survey shows that some of the troubling trends we observed last
year are continuing," Bob Funk, CEO of Express Employment Professionals
and a former chairman of the Federal Reserve Bank of Kansas City, said
in a statement. "While the economy is indeed getting better for some,
for others who have been unemployed long term, they are increasingly
being left behind...
Read the rest of the article at MSN Money
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