Here’s a fun tidbit that I missed from the June jobs report. Most months, the number of people transferring out of the workforce on disability claims are easily dwarfed by the people who find jobs. In June? Hope and change, baby:
More workers joined the federal government’s disability program in June than got new jobs, according to two new government reports, a clear indicator of how bleak the nation’s jobs picture is after three full years of economic recovery.
The economy created just 80,000 jobs in June, the Bureau of Labor Statistics reported Friday. But that same month, 85,000 workers left the workforce entirely to enroll in the Social Security Disability Insurance program, according to the Social Security Administration.