Labor Force Participation Remains at 36-Year Low
December 5, 2014 - 9:17 AM
(CNSNews.com) - The labor force participation rate
remained at a 36-year low of 62.8 percent in November, according to the
Bureau of Labor Statistics.
The participation rate, which is the percentage of
the civilian noninstitutional population who participated in the labor
force by either having a job during the month or actively seeking one,
was 62.8 percent in November which matches the percentage since March
1978.
In November, according to BLS, the nation’s civilian
noninstitutional population, consisting of all people 16 or older who
were not in the military or an institution, reached 248,844,000. Of
those, 156,397,000 participated in the labor force by either holding a
job or actively seeking one.
The 156,397,000 who participated in the labor force
was 62.8 percent of the 248,844,000 civilian noninsttutional population,
which matches the 62.8 percent rate in April, May, June, August and
October of 2014 as well as the participation rate in March of 1978. The
participation rate hit its lowest level of 62.7 percent in September
2014.
Another 92,447,000 people did not participate in the
labor force. These Americans did not have a job and were not actively
trying to find one. When President Obama took office in January 2009,
there were 80,529,000 Americans who were not participating in the
office, which means that since then, 11,918,000 Americans have left the
workforce.
Of the 156,397,000 who did participate in the labor
force, 147,287,000 had a job, and 9,110,000 did not have a job but were
actively seeking one -– making them the nation’s unemployed.
The 9,110,000 job seekers were 5.8 percent of the
156,397,000 Americans actively participating in the labor force during
the month of November. Thus, the unemployment rate was 5.8 percent, the
same as it was in October.
The business and economic reporting of CNSNews.com is funded in part with a gift made in memory of Dr. Keith C. Wold.
No comments:
Post a Comment