Americans continue to drop out of the labour market as employment numbers reach catastrophic levels, warned a panel of experts. The economy has lost a staggering percentage of its workforce over the decades. The number of people employed or looking for work as a percentage of the population sits at only 62,7 percent. Experts warned during the panel discussion that the numbers show a quiet catastrophe.
“I’m not trying to be hyperbolic in describing this as a quiet catastrophe or calamity,” American Enterprise Institute Economist Nicholas Eberstadt said.
“From 1965 to the present we’ve seen a really wrenching decline in employment […]