Employers may be hiring, but there’s another big problem with the job market that isn’t being tracked as closely: the hopelessly unemployed.
An often overlooked number calculated by the Labor Department shows millions of Americans want a job but haven’t searched for one in at least a year. They’ve simply given up hope.
They’re not counted as part of the labor force, the official unemployment rate, or the category the Labor Department refers to as “discouraged workers” — those who haven’t bothered to look for work in the last four weeks.
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