San José, CA – On July 2, the Labor Department released its report on the job market for June of 2015. The official unemployment rate fell to 5.3% in June from 5.5% in May, the lowest since the early months of the recession in April 2008. In addition, the payroll jobs report showed a gain of 223,000 in June. With unemployment down and job numbers up, the economic expansion continues.
San José, CA – On Oct. 3, the Department of Labor released their report on the job market for September. The report showed that the Labor Force Participation Rate (LFPR), or the percentage of adults either working or looking for work, continued to decline, and hit a low not seen since 1978. Almost 100,000 jobless workers gave up their job search and left the labor market, helping the unemployment rate to go down to 5.9%, the lowest since summer of 2008.
Labor Force Participation Rate drops to 35 year low
San José, CA – On Sept. 6, the Labor Department announced that the official unemployment rate dropped to 7.3% in August, down from 7.4% in July. But even though 110,000 fewer people were working in August than July, 310,000 people gave up looking for work and were no longer counted as unemployed. The Labor Force Participation Rate, or the fraction of the adult population who are either working or looking for work, fell to 63.2%, the lowest since August 1978.