Record 93,770,000 Americans Not in Labor Force; Participation Rate Matches 38-Year Low

A record 93,770,000 Americans were not in the American labor force last month, and the labor force participation rate remained at 62.6 percent, exactly where it was in June -- a 38-year low, the Labor Department reported on Friday. --In 1975, when the Bureau of Labor Statistics began keeping such records, 58,627,000 Americans were not in the labor force, and the number has grown steadily since then, breaking the 80-million mark at the end of George W. Bush's presidency; and the 90-million mark in July 2013, during Barack Obama's second term. The number of Americans not in the labor force has continued to rise since then.

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(Hat tip: KimR)