Sometimes a picture is worth a thousand words. This picture may qualify.
Since 2009, the number of folks claiming disability has
grown 19%. The average monthly disability
payment in 2013 was $1,130. Meanwhile,
the labor force participation rate continues to decline. During the same time frame, the labor force
participation rate has fallen -3.3%. I
plotted the two data sets on one chart, and it’s quite telling:
Would it be completely unreasonable to say that many capable
but chronically unemployed folks have abandoned looking for work and joined the
disability rolls?
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