What ‘are so many of them doing?’ 95 million not in US labor force




According to CNBC, Squawk on the Street, the recent US Department of Labor November Employment Report indicates that the unemployment rate has fallen to 4.6%, the lowest level since 2007.  On the surface, this would be encouraging news if it weren’t for the Labor Participation rate which dropped to 62.7% with an estimated 95 million working-age people not participating in the labor force. Analysts say this number is misleading because a large proportion is made up of Babyboomers retiring at the rate of 10,000 per day. It was suggested that the job market is actually very tight and employers are having a hard time finding employees, making them more willing to lower qualification requirements and increase work incentives.



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