Whopping 932,000 Americans Drop Out Of Labor Force In October; Participation Rate Drops To Fresh 35 Year Low

Whopping 932,000 AmericansDropOutOf Labor ForceInOctober; ParticipationRateDropsToFresh 35 YearLow

The only two charts that matter from today’s distroted nonfarm payrolls report.

First, the labor force participation rate, which plunged from 63.2% to 62.8% – thelowestsince 1978!

But more importantly, the number of people not in the labor force explodedbynearly 1 million, or 932,000 to be exact, in just the month of October, to a record 91.5 million Americans! Thiswasthethirdhighestmonthlyincreaseinpeoplefallingoutofthe labor forceinUShistory.

At this pace the people out of the labor force will surpass the working Americans in about 4 years.

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