June’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, according to the Bureau of Labor Statistics.

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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[–] 5 points 2 months ago

Frankly, the corporations and ultra rich do not deserve the workers’ contributions. I have a very small sliver of hope (not expectation) that unemployed people will band together and put these people out of business.

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