WEB Notes: Blame it on the Boomers. I like CNS, but they have too much bias here. During the Obama years we never heard of any excuses for the record setting labor force participation. But we get it today even though the Boomers have been retiring for 7 years now…
So once again we have record low unemployment, yet record high numbers of working age Americans not in the labor force.
The number of employed Americans has broken eight records since President Trump took office, but on the not-so-sunny side, the number of Americans not in the labor force also keeps increasing, breaking six records since Trump took office in January 2017.
Last month, a record 95,745,000 Americans were counted as “not in the labor force,” meaning they are not employed and are not seeking a job, according to the Labor Department’s Bureau of Labor Statics. “This category includes retired persons, students, those taking care of children or other family members, and others who are neither working nor seeking work,” BLS said.
With record numbers of people not in the labor force, the labor force participation rate has remained stubbornly low in recent years.