I can understand why our government prefers to talk about low unemployment numbers and our growing economy. I can understand why politicians are not fond of topics like technological unemployment. I can also understand why there’s malaise and uncertainty where the economy and unemployment in the US are concerned.
There is a flip side – a downside – to the government’s favorite unemployment figures, and it’s not pretty.
A recent PEW research study highlighted the growing American population not participating in the workforce (92 million people) , and an earlier post by Michael Snyder pointed out a stunning statistic about the workforce . “According to shocking new numbers that were just released by the Bureau of Labor Statistics, 20 percent of American families do not have a single person that is working.”
Given the growing number of people not in the workforce, one question comes to mind:
How high does the number of people not participating in the workforce need to go before the downside to the jobs numbers becomes a crisis American politicians can no longer ignore?
What is Technological Unemployment?
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