Quote:
Originally Posted by whell
We're still reducing the denominator:
http://cnsnews.com/news/article/ali-...bor-force-june
This means that there were 92,120,000 Americans 16 and older who not only did not have a job, but did not actively seek one in the last four weeks.
That is up 111,000 from the 92,009,000 Americans who were not participating in the labor force in April.
In June, according to BLS, the labor force participation rate for Americans was 62.8 percent, matching a 36-year low. The participation rate is the percentage of the population that either has a job or actively sought one in the last four weeks. |
Note that your participation rate figure starts at age 16, but has no cap on age. ALL persons 65 and over are included. That number is increasing fast, and has to be a drag on the participation rate.
From 2012 to 2013, the number of people age 65 and older in this country went from 43.1 million to 44.7 million.
http://factfinder2.census.gov/faces/...xhtml?src=bkmk
The change was + 1.6 million. Divide that by 12 and you have a rate of 133,000 per month. Not all are retired, of course, but I think I just found the vast majority of the 111,000 increase your article identifies over a two-month period.