US labor force participation fell to 61.4% in July, the lowest since May 2020, as 2.4 million workers have exited the labor market since November.
Macro & Markets ·
US labor force participation dropped to 61.4% in July, marking the lowest level since May 2020 and the weakest reading outside the pandemic era since March 1976. The decline of 0.1 percentage point represents the seventh monthly drop in eight months, with cumulative losses reaching 1.1 percentage points. More than 2.4 million workers have exited the labor force since November, including 264,000 in July alone following a 720,000-person decline in June.