The Unparticipation Rate

The latest employment report was great, but a little perspective, please. The labor force participation rate is now 63.7% it lowest level since 5/83! (The all-time high was 67.3% in 3/00). Worse, since the recession ended in 6/09, rather than rising, the LFPR has continued to fall from 65.7% to its current anemic rate of 63.7%. This two percentage point decline translates into 2.8 million fewer persons in the workforce.

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