(NYPOST) — Where have all the workers gone?
The most recent take from the Bureau of Labor Statistics says the participation rate of all US workers is 63.6 percent of the population — the lowest figure since Dolly Parton sang “9 to 5” in December 1981.
This historically low participation number is directly contributing to the lowering of the unemployment rate, since far fewer people are actively searching for work.
Turns out one of the largest demographic leaving the work force is adult women. The BLS says the rate of female labor participation over the last year has been a statistically significant drop from 58.3 percent in April 2011 to 57.6 percent this April, with 324,000 calling off their job search in March and April, according to the BLS. The rate peaked in April 2000, when it hit 60.3 percent.