The number of Americans not in the labor force last month totaled 94,513,000 — a slight improvement from the 94,610,000 not in the labor force in September–but the labor force participation rate nonetheless remained at its lowest point in 38 years, with only 62.4 percent of the civilian noninstitutional population either holding a job or actively seeking one.

The Bureau of Labor Statistics says economy added 271,000 jobs in October, well above economists’ expectations of 185,000, and the unemployment rate dropped to 5.0 percent in October from September’s 5.1 percent.

Federal Reserve Chair Janet Yellen told Congress on Wedesday that she sees the U.S. economy “as performing well,” although “we have seen some slowdown in the pace of job gains recently.”

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