The nation's jobless rate was 7.3% in August, down slightly from 7.4% in July, the Labor Department said Friday in its monthly employment report.
But that small improvement was mostly the result of discouraged jobseekers who have given up looking for work. People who are not actively looking for employment are not considered as unemployed.
Some 312,000 people stopped looking for work in August, pushing the labor force participation rate to 63.2 percent, the lowest since 1978.
The labor force participation rate measures how many healthy, working-age people 16 and older are working or looking for jobs.
The participation rate has been declining for years because millions of Americans have quit searching for a job, a result of the weakest economic recovery since the Great Depression. Full story...
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But that small improvement was mostly the result of discouraged jobseekers who have given up looking for work. People who are not actively looking for employment are not considered as unemployed.
Some 312,000 people stopped looking for work in August, pushing the labor force participation rate to 63.2 percent, the lowest since 1978.
The labor force participation rate measures how many healthy, working-age people 16 and older are working or looking for jobs.
The participation rate has been declining for years because millions of Americans have quit searching for a job, a result of the weakest economic recovery since the Great Depression. Full story...
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