Millions of workers will remain on sidelines until benefits of having a job outweigh the costs, Fed official says

Millions of workers will remain out of the U.S. labor market until the real and perceived benefits versus the costs of working are improved, said Richmond Fed President Tom Barkin, on Tuesday.

In a speech to the South Carolina Chamber of Commerce, Barkin estimated there are nearly 108 million Americans on the sidelines of the economy. Of those, only 8 million are actively seeking work. This translates to an unemployment rate of 4.8%.

Why...