A new report from the Economic Policy Institute (EPI) suggests that the US labor market may be headed toward a crisis.
The report found that US workers have become more insecure since the financial crisis and that the labor market in the US is experiencing a “severe” downturn.
The most vulnerable US workers are those who are working in retail, fast food, and service jobs, with some of the highest unemployment rates among the developed world, according to the report.
The report notes that the unemployment rate for those who were in these jobs before the crisis is even higher than for the overall population.
In the last four years, the US has lost more than 800,000 manufacturing jobs, according the report, and is now down to just 1.6 million manufacturing jobs.
The current unemployment rate is the lowest it’s been in more than 20 years.
The EPI says that US labor markets are “dramatically” undervalued and that this is putting off many workers.
The study also finds that the number of workers who are actively looking for jobs has been declining.
“While this has been a long-term trend, it is also a reflection of a general lack of enthusiasm for employment,” said Paul Solman, EPI senior economist.
In fact, according to the report , there were only 6,400 jobs available for every 100 people in 2016.
The problem is compounded by the fact that there is no guarantee that employers will hire people who are qualified for the jobs.
According to the EPI, more than half of the people who have applied for jobs have been rejected.
“It is clear that employers are under a significant amount of pressure to find qualified candidates,” the report concludes.
“This is leading to a significant shortage of qualified workers.
This shortage could lead to a reduction in the number and quality of jobs available, leading to even more job losses.”
The EPRI report, titled “The New Labor Market Crisis: The End of a Great Wave?”, was released last week.
While the report makes some general recommendations, it also warns that the current economic environment is going to “lead to a severe shortage of skilled workers, which could result in further job losses and increased inequality.”
“While the number one challenge to our economy is keeping people employed, we should be focusing on finding solutions to our economic problems, not blaming the current downturn on President Trump and his policies,” Solman said.