Fewer and fewer people are supporting more and more people while wages decline. We have a serious problem, America.
While the prior two months saw a labor force participation rate of 62.2 percent, September’s participation rate dropped to 62.4 percent, matching the lowest level seen since October 1977.
The civilian labor force in September clocked in at 156,715,000, declining by 350,000 people, compared to August’s 157,065,000 labor force level.
In total 148,800,000 people were employed last month, 7,915,000 were unemployed, and 5,955,000 people were looking for a job.