Economic Slump Overtakes Job Market; Record-High 93 Million Not Participating

Following news the Federal Reserve Bank of Atlanta’s forecast of GDP growth dropped to zero April 1, the Bureau of Labor Statistics reported the number of Americans 16 years and older who did not participate in the labor force rose from 92,898,000 in February to a record high of 93,175,000 in March.

It was first time the number of Americans out of the labor force has exceeded 93 million.

Record highs also were record in the number of blacks and women not participating in the work force.

And, overall, a 37-year low was matched with the labor force participation rate dropping from 62.8 percent to 62.7 percent from February to March.

The Associated Press reported the economy’s slump finally overtook the job market, with employers adding just 126,000 workers, the fewest since December 2013.

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