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94,391,000 Americans Not Participating in the Labor Force
[Free Beacon] There were 94,391,000 Americans not participating in the labor force in August, an increase of 58,000 people from the previous month, according to data released by the Bureau of Labor Statistics on Friday.The bureau counts those not in the labor force as people who do not have a job and did not actively seek one in the past four weeks. The labor force participation rate, which is the percentage of the population that has a job or actively looked for one in the past month, remained steady at 62.8 percent in August. According to the bureau, this level of participation matches the level seen in 1978. The unemployment rate for all Americans remained steady at 4.9 percent from July to August. This measure does not account for those individuals who have dropped out of the labor force and simply measures the percent of those who did not have a job but actively sought one over the month. The "real" unemployment rate, otherwise known as the U-6 measure, was 9.7 percent, which remained steady from the previous month. Democrats such as Sen. Bernie Sanders (I., Vt.) and Federal Reserve chair Janet Yellen have said this measure accounts for discouraged workers and those working part time instead of full time for economic reasons and is more representative of the labor market. There were 6,053,000 Americans working part-time in August who would rather have a full-time job but cited economic reasons for not having such employment. This number increased by 113,000 over the month. Posted by: Besoeker 2016-09-03 |
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