Today’s Daily Caller reported that the percentage of Americans in the labor force has reached a record low–62.8 percent. According to the article, a record high 91,541,000 Americans did not participate in the labor force this October. Since January 2009, more than 11 million people have dropped out of the labor force.
The article concludes:
The economic blog Zero Hedge notes that at the current rate, the number of people not participating in the labor force could exceed those working in about four years.
This is unlike any economic recovery from a recession we have ever had.