00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The number of Americans outside the labor force rose by $832,000 in June,
00:08to a record $105.8 million as hiring slowed and participation declined,
00:13according to data shared by the CoBC letter, citing the Federal Reserve Bank of St. Louis.
00:19Employers added 57,000 jobs, below the 110,000 forecast,
00:23while the labor force participation rate fell 0.3 percentage points to 61.5%.
00:29The unemployment rate slipped to 4.2%, partly because fewer people were actively seeking work.
00:35April and May payroll gains were revised lower by a combined 74,000 jobs.
00:40The number of Americans outside the labor force has risen from 68.7 million in 2000
00:47to 38.5% of the adult population, the highest share since the 1970s outside the pandemic.
00:54Average hourly earnings rose 0.3% from May and 3.5% from a year earlier.
00:59For all things money, visit Benzinga.com.
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