A fresh poll shows that 43% of jobless Americans have given up looking for work. For those out of work for two years or more, nearly 60% have given up. On average, the unemployed spend less than 12 hours a week looking for work. Half have not had a job interview since 2014, yet two-thirds say they don’t bother applying for minimum wage jobs because the pay is too low. On the flip-side, 22% said they are out of work because they quit their jobs, which many interpret as a positive sign for the labor market because it indicates a more mobile and confident labor force.
[Source: Shared by kind permission of Gavekal – June 10, 2016)
