Summary
The number of Americans who are not seeking jobs has increased, as reported by the U.S. Bureau of Labor Statistics. Despite a decrease in people wanting jobs, various factors such as mismatched wages and increased job searching frustrations are keeping many out of the workforce.
Key Facts
- The number of people not in the workforce who want a job dropped by 421,000 to 5.9 million in September.
- The national unemployment rate was 4.4% in September.
- Individuals not actively searching for jobs are not considered unemployed in official statistics.
- Wages are not keeping up with the cost of living, causing some to stop looking for work.
- Different groups, including retirees, students, and caregivers, contribute to the increase in people not looking for jobs.
- Frustrations with the job search process are leading some to give up searching entirely.
- The perceived "tight" labor market hides deeper issues like a smaller workforce and reliance on benefits.
