An economic crisis may be unfolding across the United States as millions of Americans simply "can't find jobs," pushing the number of discouraged workers well beyond 2008 Financial Crisis levels.
This metric of shadow unemployment has "surged" by over a million people since last spring, exposing vulnerabilities and a weakening modern workforce.
Deteriorating Beneath The Surface Recent analysis based on the Federal Reserve Economic Data presented by the Kobeissi Letter reveals that "labor market conditions are deteriorating beneath the surface." In May alone, the number of Americans who are not officially counted in the labor force but who currently want a job increased by 76,000.
This uptick brought the total number of sidelined workers to 6.2 million, establishing the third-highest level recorded since July 2021.
This is not an isolated monthly anomaly.
