Recession Moves Unemployed To Social Security Disability

Since the beginning of the current recession in 2007, more than 1.6 million Americans have taken themselves out of the work force, but obtaining Social Security Disability benefits. The outcome is that the U.S. unemployment rate appears better than it is, because the number of persons in the labor force has decreased. Many of these persons have permanently quit looking for employment, as measured by the U.S. Bureau of Labor Statistics and moved onto the rolls of the Social Security Administration. This is the conclusion of a report recently issued by Bloomberg News.

Historically, it is not unusual for the labor force participation rate to decrease during a recession. Of the 5.7 millions persons who have dropped out of the labor force, Bloomberg estimates that about 25% of these, roughly 1.6 million persons, have opted for Social Security Disability. Many others have simply retired, taking Social Security retirement, if they are in fact eligible.

Social Security Attorney and Lawyer Randy Zeldin, Esq., represents individuals in Ft. Lauderdale and West Palm Beach, seeking Social Security Disability benefits.