Since the Great Recession,which began in 2008,the U.S.labor supply curve has shifted to the left because many workers were disillusioned by bad job prospects and left the labor force.

Great Recession

The significant global economic downturn that occurred from late 2007 through mid-2009, characterized by widespread financial crisis, high unemployment, and declines in the housing market.

Labor Supply Curve

A graphical representation showing the relationship between the number of labor hours workers are willing to work at various wage levels.

Job Prospects

The potential for future employment and career opportunities in a certain field or profession.