The U.S. labor force participation rate is in freefall, with June recording the biggest one-month drop for workers ages 25 to 54 since 1976, excluding the pandemic period. Roughly 720,000 people stopped working or looking for work between May and June, while more than 1.9 million Americans were experiencing long-term unemployment in June. In January 2025, announced layoffs reached levels not seen since the 2009 financial crisis, according to outplacement firm Challenger, Gray & Christmas. This situation is driving many job seekers to abandon their search, impacting their mental health and long-term career prospects.
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