The Labor Department on Friday reported another disappointing month for employment, but the problem wasn’t a dearth of jobs. The question is whatever happened to the workers?
Employers added a mere 194,000 jobs in September, the second negative monthly surprise in a row. While the unemployment rate fell sharply to 4.8% from 5.2%, that’s because 183,000 Americans dropped out of the workforce. Labor force participation fell 0.1 percentage point to 61.6% and has barely moved since 61.4% a year ago even as the economy has grown rapidly. (See nearby chart.)
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Source:" WSJ "