The Price We Pay: Economic Cost of Barriers to Employment for Former Prisoners and People Convicted of Felonies
In 2014, the U.S. economy lost between $78 billion and $87 billion because of significant barriers to employment faced by former prisoners or people with felony convictions, according to a report from the Center for Economic and Policy Research. The Price We Pay: Economic Cost of Barriers to Employment for Former Prisoners and People Convicted of Felonies estimates that the employment penalty associated with a criminal record caused a one percent reduction in the country’s overall employment rate, costing nearly one half of one percent of overall GDP. The report also finds that long-term employment prospects are worse for minority men and men with less than a high school diploma.