[CNS News] The Labor Department's Bureau of Labor Statistics said the economy added 304,000 jobs last month, higher than analysts were expecting."Unexpectedly"
The number of employed Americans, 156,694,000, was slightly below last month's record (156,945,000), and the unemployment rate increased a tenth of a point to 4.0 percent.
But the labor force participation rate increased a tenth of a point to 63.2 percent -- the highest it's been on President Trump's watch.
In January, the nation’s civilian noninstitutionalized population, consisting of all people age 16 or older who were not in the military or an institution, reached 258,239,000 (lower than it was last month). Of those, 163,229,000 participated in the labor force by either holding a job or actively seeking one.
The 163,229,000 who participated in the labor force equaled 63.2 percent of the 258,239,000 civilian non-institutionalized population.
The participation rate was 62.9 percent when Trump took office, and it has showed little change since then, as retiring baby boomers offset additions to the nation's workforce.
In a report released last week, the Congressional Budget Office said it expects the labor force participation rate to stay about where it is now for the foreseeable future. The highest it's ever been is 67.3 percent in 2000, when it began its steady downward drift.
The number of Americans not in the labor force -- meaning they were neither employed nor looking for a job -- dropped by 639,000 to 95,010,000 in January, a move in the right direction