Monday, September 10, 2012
More Eligible Utah workers Have Stopped Looking for Jobs
According to the Utah Department of Workforce Services, about 130,000 eligible workers have stopped looking for employment since 2007. At the time, Utah had approximately 1.35 million people in its eligible workforce — those 16 years old and older — with about 72 percent of those eligible actually employed or looking for work.
Since that high-water mark, the participation rate of eligible workers has declined to 66 percent. Younger people have dropped out of the labor force and perhaps moved in with parents or returned to school, and more aging baby boomers have found it difficult to find jobs, said senior DWS economist Mark Knold.
“You see kids going back into mom’s basement, and/or college enrollments (going) way up during the recession,” he said, adding that eventually, the long-term benefit will be a better-educated workforce.
“But in the meantime, you have this large decline in the labor force participation rate,” he said. “You have people that the economy pushes out, and they come back in because the economy lets them come back in.”
Knold said that it would likely take years for the employment sector to recover back to 2007 levels. Deseret News