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Labor Participation at Lowest Level Since 1977
From the Wall Street Journal:
U.S. employers steadily added jobs in June, but wages were flat and the participation rate fell, suggesting pockets of weakness remain in the labor market.
Nonfarm payrolls rose a seasonally adjusted 223,000 in June, the Labor Department said Thursday. But revisions to the prior months showed weaker job creation this spring than initially estimated. Employers added 254,000 jobs in May, down from an initially reported 280,000. April’s gain was revised to 187,000 from a previously reported 221,000.
The unemployment rate, which is obtained from a separate survey of U.S. households, fell to 5.3% in June, compared to 5.5% the prior month. The rate is the lowest since April 2008, but reflects fewer Americans were looking for jobs.
Meanwhile, the share of Americans participating in the labor force fell to 62.6% in June from 62.9% in May. That rate was the lowest since 1977.
Source: http://www.whitehousedossier.com/2015/07/02/labor-participation-1977/
