94,184,000 Not In Labor Force; Labor Force Participation Rises; Unemployment Rate Ticks up to 5.0

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CNS News:

(CNSNews.com) - The Labor Department's Bureau of Labor Statistics shows an improving/mixed employment situation in September, in the numbers released Friday.

 

94,184,000 Americans were not in the labor force in September, 207,000 fewer than in August, and the nation's labor force participation rate, which began its steady downward trend in 2000, showed little change last month, rising a tenth of a point to 62.9 percent compared with August.

 

At a recent news conference, Federal Reserve Chair Janet Yellen said the labor force participation rate has increased on balance since late last year, which "shows a substantial number of people are being attracted into the labor market."

 

Yellen told Congress on Sept. 28 that the Federal Reserve expects labor market conditions to continue strengthening, making an interest hike likely soon, probably in December.