Here’s an interesting article by Mark Trumbull, first published in The Christian Science Monitor, and reprinted on the Friends of the U.S. Chamber of Commerce website.
The US unemployment rate fell in September to 7.2 percent, but the economy added a disappointing 148,000 new jobs.
And by one important measure the job market is stagnant: The number of employed people stayed flat in September, relative to the overall adult population as tallied by the Labor Department.
To some degree, that’s happening because more people are entering retirement. But it’s also a sign that many Americans are opting out of the labor force in a still-weak job market.
The September job tally came in below what economists had forecast. It’s down from a figure of 193,000 nonfarm jobs added in August. And it’s a snapshot taken prior to a damaging government shutdown that’s expected to make October a weak month for the labor market.