20% of American Workers Were Laid-Off in the Last 5 Yrs –Image: AOL
(LA Times) One in 5 American workers were laid-off in the last 5 years and about 22% of those who lost their jobs, haven’t found one according to a new survey that shows the extent Americans have struggled in the sluggish economy.
The number of people seeking first time jobless benefits increased last week by 12,000 according to the Associated Press to 293,000 the labor department reported today–Employers added just 142,000 last month down from an average 212,000 in the preceding 12 months.
In related economic news, Brookings reports the U.S. Labor participation rate dropped to 62.8% in August, matching the lowest rate of the past 37 years.
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