Participation Rate Crashes To October 1977 Level: Americans Not In Labor Force Soar By 579,000

Zero Hedge ^ | 10/02/2015 | Tyler Durden

[SeekAndFind]

While the September jobs number was an absolute disaster, here is the real punchline: in September, the people not in the labor force soared by a whopping 579,000 to a record 94.6 million, up from the previous record 94.0, even as number of people employed - according to the household survey used to calculate the "5.1%" unemployment rate - tumbled by 236,000 to 148.8 million.

 

And as a result of this latest surge in people who aren't working, nor want to work, the participation rate crashed yet again, and sliding from 62.6% to 62.4%, it was the lowest since October 1977.

 

Finally, if anyone is still confused where there is no job growth in the US, here is the answer: the amount of slack in the labor force is simply breathtaking.

[SeekAndFind]

TITLE TOO LONG. HERE"s THE ORIGINAL UNCUT TITLE:

Participation Rate Crashes To October 1977 Level: Americans Not In The Labor Force Soar By 579,000 To Record 94.6 Million

[headstamp 2]

We have such a raging economy that interest rates are at zero.

[dljordan]

How about deporting 30 million people who shouldn’t be here and cancelling the work visas?

[ground_fog]

I feel for all those who lost their jobs and were never able to get back in their careers.They are forgotten by the media, shunned by recruiters and any have nowhere to go after being out of the workforce. Prayers up!

[eyeamok]

This is good news right? I mean if we can manage to lose about 5 million more jobs, the Unemployment Rate will be at 0! A Huge success!

[Eagles6]

LFPR also counts retired. Wonder how many working age Americans are not employed.

More people laid off and the unemployment rate goes down . It's magic!

[ground_fog]

UE Tate will get to 2 0percent and the media will say how great things are! What a scam! The federal reserve is a disaster

[ground_fog]

WTF is the fed going to do now? Go negative? They are going to print more money now I bet which will make things worse..but hey if you own stocks it will be good..not really this time IMO..They should have raised rates long ago..a bunch of useless academic a holes whose forecast have always sucked.

[Buckeye McFrog]

I would never have voted for Obama because I was alive in October, 1977 and still have vivid memories of how horrible it was for nearly everybody.

Problem today is more than half of our electorate has no memory of it.

[PoloSec]

Take out most of those employed yet produce nothing, we brake the condition critical scale, who are those who get paid for producing nothing...

Government Employees!

Then to make it worse if they are counting the military as employed (not sure they do) the ones actually earning their pay and are doing more before breakfast in the morning than a government civilian employee does all day; we are in big trouble.

[null and void]

We need more H-1Bs and dreamers!!!!

[Soul of the South]

Free trade and offshoring of our industrial base is going to bring us a booming economy and prosperity for all. So we have been promised for 25 years by two Bush presidents, Clinton, Obama, and the Chamber of Commerce.

Still waiting.

[null and void]

I feel for all those who lost their jobs and were never able to get back in their careers.They are forgotten by the media, shunned by recruiters and any have nowhere to go after being out of the workforce. Prayers up!

Thank you. It took me 6-1/2 years to find a paying job in my industry after being replaced by three H-1Bs.

Doing great now, debts paid off, starting to re-accumulate something towards retirement.