Labor force participation rate drops to 61.5%, lowest in 50 years outside of Covid era, as 720,000 workers exit
By
Jeff Cox
Summary
The June 2026 jobs report shows a drop in the unemployment rate, but for troubling reasons: 720,000 workers left the labor force entirely. The labor force participation rate fell to 61.5%, the lowest since March 2021 and, excluding the Covid era, the lowest since June 1976. This indicates widespread discouragement among job seekers who have stopped looking for work altogether.
Source
bskyLabor force participation rate drops to 61.5%, lowest in 50 years outside of Covid era, as 720,000 workers exitcnbc.comKey quotes
· 4 pulledJune'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.
Excluding the Covid-era jobs market, it was the lowest participation rate since June 1976.
The labor force plummeted by 720,000 in June.
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