The opioid epidemic has been marked as one of the greatest health concerns America has faced in its history. Millions of Americans struggle with opioid addiction each day, and countless more live with addiction that has never been documented. The widespread effect of the opioid epidemic has become so monumental, recent statements from the Federal Reserve have named it an economic crisis as well, one that has significantly weakened the American workforce.
The Federal Reserve has a number of roles as a cornerstone government agency, each one concerning the economy in some way. It attempts to keep track of available jobs compared to the number of people without jobs but who would prefer employment. In the last few years, it has noticed an imbalance caused by opioid addiction.
Jerome Powell, the Federal Reserve Chairman, has cited a Princeton survey that targeted working-age men and asked how often they used painkillers. According to the responses, about 44% of all men use pain medication each day, or every other day. The data corresponds to Federal Reserve findings that a significant percentage of “prime-age” men are unemployed for no clear reason, other than drug addiction. It also matches labor force participation (LFP) rate changes from 2008 to 2018. During that time, the LFP rate dropped about 3% and unemployed people not counted in the LFP rate increased 20%.
(Would you like to know more about how the opioid epidemic has negatively impacted the American economy? You can click here to read a full article from CNBC.)
Call Our Scottsdale Rehab Specializing in Opioid Addiction
At Acceptance Recovery Center, we are dedicated to helping people retake control of their lives after drug and alcohol addiction threatened their health and livelihood. Many of our patients come to us after a prescription painkiller or opiate has become dangerously addictive. Using the tried-and-trusted 12-step philosophy and a number of customizable therapies andtreatment programs at our Scottsdale rehab center, you can overcome opioid addiction, too.
Discover your strength by calling us at and requesting a free assessment today.
Dr. Greg Gale has been practicing and providing leadership in the field of psychiatry, substance use, and integrated care in the Phoenix metropolitan area for over 11 years. He joins us from his role as a national medical director overseeing behavioral health, substance use, and integrated care services for Humana Behavioral Health. Previously, he was CMO and VP of Clinical Services at Partners in Recovery, a not-for-profit behavioral health and substance use service organization, which operates five clinics throughout Maricopa County.