WSJ What’s News

Who Are the Millions of Americans Locked Out of the Job Market?

An analysis of the U.S. labor market, record Wall Street earnings, and updates on ICE immigration policies.

While the U.S. labor market is strong by most metrics, approximately two million people have been looking for work for six months or longer, and Wall Street investment banks are experiencing record earnings.

124
12 minJul 15, 2026WSJ What’s News

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Who Are the Millions of Americans Locked Out of the Job Market?

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Key takeaways

What to know before you press play.

01

Labor Market Strength and Gaps

Most key metrics indicate the U.S. labor market is in a great position, yet two million people remain job seekers for over six months.

12
02

Wall Street Earnings Surge

Major investment banks are bringing in gargantuan hauls, driving them toward their best trading year ever.

45
03

ICE Policy Shifts

President Trump directed ICE officers to resume traffic stops for immigrant arrests shortly after agency leadership had suspended them.

7

Ask GenPod next

Keep the question moving.

01

Which demographics are most affected by the six-month job search duration?

02

What specific factors are contributing to the record earnings at Wall Street banks?

03

How do the recent ICE traffic stop policies impact immigrant communities?

Background reading

The context behind the episode.

Labor Market Analysis

The Sidelined Workers

Despite positive overall labor metrics, a significant portion of the workforce—two million individuals—has been searching for employment for six months or more, raising questions about who is being sidelined.

123

Questions

Questions to carry into the episode.

How many people have been looking for work for over six months?

Two million people.

2
What is driving Wall Street's best trading year?

Gargantuan hauls from the biggest investment banks.

45
What recent change occurred regarding ICE traffic stops?

President Trump said ICE officers should keep using traffic stops, just after the agency's leadership suspended them.

7

Experts

Voices named in the source.

Harriet Torry

WSJ economic correspondent

3

Ben Glickman

WSJ reporter

6

Sources and disclosure

Where this guide comes from.

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

  1. Publisher show notes

    The U.S. labor market is in a great position, according to most key metrics.

  2. Publisher show notes

    But two million people are still looking for work after six months or longer without a job.

  3. Publisher show notes

    WSJ economic correspondent Harriet Torry explains who is being sidelined.

  4. Publisher show notes

    Plus, Wall Street’s biggest investment banks are bringing in gargantuan hauls.

  5. Publisher show notes

    What’s driving them towards their best trading year ever?

  6. Publisher show notes

    We hear from WSJ reporter Ben Glickman.

  7. Publisher show notes

    And President Trump says ICE officers should keep using traffic stops to arrest immigrants, just after the agency’s leadership suspended the stops.

  8. Publisher show notes

    Sign up for the WSJ's free What's News newsletter.

  9. Publisher show notes

    Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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