Report: More Than 92 Million Americans Remain Out Of Labor Force May 2, 2014 10:37 AM
WASHINGTON (CBSDC/AP) — Despite the unemployment rate plummeting, more than 92 million Americans remain out of the labor force.
The unemployment rate dropped to 6.3 percent in April from 6.7 percent in March, the lowest it has been since September 2008 when it was 6.1 percent. The sharp drop, though, occurred because the number of people working or seeking work fell. The Bureau of Labor Statistics does not count people not looking for a job as unemployed.
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“Not only is job growth continuing, but it is accelerating,” said Patrick O’Keefe, director of economic research at the accounting and consulting firm CohnReznick.
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Fri May 02, 2014 12:42 pm
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