A record 94,610,000 Americans were not in the American labor force last month — an increase of 579,000 from August — and the labor force participation rate reached its lowest point in 38 years, with 62.4 percent of the U.S. population either holding a job or actively seeking one.
In other disappointing news, the economy added only 142,000 jobs in September, well below economists’ expectations, but the unemployment rate remained at 5.1 percent, where it was in August.
The number of Americans not in the labor force has continued to rise, partly because of retiring baby-boomers and fewer workers entering the workforce.
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