COLORADO SPRINGS, Colo.– Economists are hinging hopes of a recovery on how strong hiring is during the month of September as kids return to school–hopefully freeing up more adults to return to work.
“We really need to get these workers back into the active labor force, looking for work, and finding jobs at livable wages,” said Tatiana Bailey, a Ph.D. economist and director of the Economic Forum hosted at the University of Colorado-Colorado Springs.
Labor participation in the United States is at one of the lowest points since the late 1950s, at under 62% of adults.
Despite hopes for the contrary, the rate remained unchanged from July to August, squelching anticipation for late summer hiring.
Bailey says hospitality workers have moved on to other careers with more stable hours and better pay. She also says a booming stock market has allowed some people on the verge of retirement to financially make…