Reversing recent declines, the percentage of the population that is either working or actively looking for work increased slightly to 62.3 percent in December, up one-tenth of a point from November, and four basis points higher than the 61.9 percent in December 2021.
In its final report for 2022, the Labor Department’s Bureau of Labor Statistics counted a record 159,244,000 employed Americans in December, an increase of 717,000 from last month’s 158,527,000 (revised number); and the number of Americans counted as not in the labor force dropped below the hundred million level to 99,879,000.
People who are not in the labor force have no job and are not looking for one. This group includes retirees, students, caregivers, and others who have dropped out of the labor force at a time when jobs go begging.
Despite higher interest rates, the economy added a strong 230,000 jobs in December, above expectations of 200,000. Notable job gains occurred in leisure and hospitality, health care, construction, and social assistance.
Along with the record number of employed Americans, the number of unemployed — no job […]
What is typically left out of every
Job report is the number of people who had to take a second or even third job. Those numbers often paint a much less cheerful looking economic picture
The pay scale and the hours have undergone huge changes. It’s really important to factor in the soaring cost of living.