By David Houle
So where have the workers gone? As usual in all things economics there are numerous potential answers to this question, and it’s impossible to pinpoint all the moving parts perfectly. However, one anecdotal answer is that many of these workers are now on welfare. Over the past five years transfer payments from the government have grown by an amount four times greater than the increase in wages paid, and there are now more people living on government assistance than there are gainfully employed in the U.S.
HT: Bob Mudra