June’s drop in the unemployment rate was because of an exodus of workers from the labor force.
The labor force participation rate, which measures the working-age population of those either employed or looking for a job, fell to 61.5%, the lowest since March 2021, according to the Bureau of Labor Statistics.
Excluding the Covid-era jobs market, it was the lowest participation rate since June 1976.
The labor force plummeted by 720,000 in June.
Yep, you give people enough of a reason to want to pay it forward, then they’ll pay it forward.