CNS - The number of Americans 16 years and older who did not participate in the labor force--meaning they neither had a job nor actively sought one in the last four weeks--rose from 92,898,000 in February to 93,175,000 in March, according to data released by the Bureau of Labor Statistics.
That is the first time the number of Americans out of the labor force has exceeded 93 million.
Also from February to March, the labor force participation rate dropped from 62.8 percent to 62.7 percent, matching a 37-year low.
Five times in the last twelve months, the participation rate has been as low as 62.8 percent; but March’s 62.7 percent, which matches the participation rate seen in September and December of 2014, is the lowest since February of 1978.
1 comment:
The denial of the technological singularity is amazing. It's true that new technology creates jobs. But any technology that creates more work than it eliminates has little chance of coming to fruition. Therefore, barring catastrophe, there will be fewer and fewer jobs from now on, no matter what the deaf and blind economists say with their heads deeply buried in the sand.
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