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Yesterday’s dismal jobs report showed the lowest labor participation rate in 31 years.  Employers added only 96,000 workers in August, down sharply from the 141,000 in July and well below the 100,000 to 150,000 jobs needed just to keep pace with growth in the labor market. The weak report aside, the unemployment rate still dropped — from 8.3 percent to 8.1 percent — because many of the out-of-work simply gave up. And only two out of three working-age Americans either had a job or were looking for one last month, the lowest level since Ronald Reagan took office. “The economy is crawling up the down escalator,” said Patrick O’Keefe, head of economic research at financial consulting firm J.H. Cohn in Roseland, N.J.

Yesterday’s dismal jobs report showed the lowest labor participation rate in 31 years. 

Employers added only 96,000 workers in August, down sharply from the 141,000 in July and well below the 100,000 to 150,000 jobs needed just to keep pace with growth in the labor market.

The weak report aside, the unemployment rate still dropped — from 8.3 percent to 8.1 percent — because many of the out-of-work simply gave up. And only two out of three working-age Americans either had a job or were looking for one last month, the lowest level since Ronald Reagan took office.

“The economy is crawling up the down escalator,” said Patrick O’Keefe, head of economic research at financial consulting firm J.H. Cohn in Roseland, N.J.

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    Potential presidential debate question: How do we encourage people who have given up on finding work to ”participate”...
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