Why people are dropping out of the workforce and not looking for new jobs: 'The market wore me down'

Here is a story making headlines in the economy: After six months of scouring job listings and sending off resumes, Dan Coda's job search came to an end. He didn't find the technical program or project management job he wanted; he just stopped looking altogether.

Starting around December 2025, when he was laid off from his previous role, Coda says he spent more than 300 hours job hunting, submitting dozens of applications, hearing back about 15 potential roles and going through multiple rounds of interviews to no avail. By June, Coda says he was done with the grueling effort of looking for work.

Financial markets are tracking the development closely as investors assess the likely impact.