Employment Report

By Ray Pinard | September 16, 2013

The Heritage Foundation has published its August Labor Report

The labor market remains one of the weakest aspects of the broadly mediocre economic recovery. Although the headline unemployment rate has gradually fallen to 7.3 percent, job creation has merely kept up with population growth, not regaining the ground it lost in the Great Recession.

The unemployment rate has fallen because fewer Americans are looking for work. The labor force participation rate has now hit a 35-year low. Economic factors—not the aging of the baby boomers—explains the vast majority of this drop.

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