A drop in the unemployment rate helped provide some upside to what was an otherwise downbeat jobs report — but it was for all the wrong reasons.

June’s drop in the unemployment rate was because of an exodus of workers from the labor force.

The labor force participation rate, which measures the working-age population of those either employed or looking for a job, fell to 61.5%, the lowest since March 2021, according to the Bureau of Labor Statistics.

Excluding the Covid-era jobs market, it was the lowest participation rate since June 1976.

The labor force plummeted by 720,000 in June.

  • evilcultist@sh.itjust.worksEnglish
    5·
    6 days ago

    Frankly, the corporations and ultra rich do not deserve the workers’ contributions. I have a very small sliver of hope (not expectation) that unemployed people will band together and put these people out of business.