Record 93,770,000 Americans Not in Labor Force; Participation Rate Matches 38-Year Low

Record 93,770,000 Americans Not in Labor Force; Participation Rate Matches 38-Year Low
A record 93,770,000 Americans were not in the American labor force last month, and the labor force participation rate remained at 62.6 percent, exactly where it was in June -- a 38-year low, the Labor Department reported on Friday.
In 1975, when the Bureau of Labor Statistics began keeping such records, 58,627,000 Americans were not in the labor force, and the number has grown steadily since then, breaking the 80-million mark at the end of George W. Bush's presidency; and the 90-million mark in July 2013, during Barack Obama's second term. 
The number of Americans not in the labor force has continued to rise since then.
-- 6,325,000  million people were employed part time for economic reasons (involuntary part-time workers) in July, These individuals, who would have preferred full-time employment, were working part-time because their hours had been cut back or because they were unable to find a full-time job.
-- The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2,180,000 in July (up from 2,121,000 in June). These individuals accounted for 26.9 percent of the unemployed.