Economy

SHOCKING STAT: 70% of Americans Not in the Labor Force Are Under 55 Years Old

Infograph shows majority of 5.8 million 'missing' workers have given up the search because there simply aren’t any jobs.

Cracking the job market in the United States has been increasingly tough since the recession, with labor force participation and morale dropping significantly as job opportunities remain low. However, new research paints an even gloomier economic picture.

According to new Infograph by Economic Policy Institute (EPI), there are now 5.8 million workers who are not in the labor force or have given up looking for work completely, which mean the unemployment rate is probably a lot higher than actual estimates, Upworthy reports

The number of those under 55 and much younger is even more startling with roughly three quarters of the drop off due to a lack of job prospects.  More alarmingly, over one million men and women under 25 years-of-age qualify as missing workers with overall unemployment actually projected at 10 percent instead of 6.6 percent.

“These missing workers under age 55—4.2 million of them—are extremely unlikely to have retired and are therefore likely to enter or reenter the labor force when job opportunities substantially improve,” EPI reports.

Such figures do not instill a lot of hope for the current generation in light of estimates that the labor market is not picking up.

Check out the Infograph and see for yourself the number of workers who are neither employed or seeking work due to weak job opportunities.

Jodie Gummow is a senior fellow and staff writer at AlterNet.

 

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