Record monthly decline in labor force participation rate
The civilian labor force dropped by 806,000 in April, following an increase of 503,000 in March. The labor force participation rate fell by 0.4 percentage point to 62.8 percent in April. The participation rate has shown no clear trend in recent months and currently is the same as it was this past October.
The headline rate tumbled as 806,000 people left the civilian labor force, a development one market strategist called "shocking." The labor force participation rate slumped to 62.8 percent, its worst of the year and near 35-year lows.
It's worth noting that some Obamacare advocates say that's an intended result of the program, i.e. people who were working for health benefits no longer need to.
But it's mainly an economy that has never gotten back into 3rd gear and people likely throwing in the towel - although the onset of Obamacare is itself part of the reason this is possibly the worst recovery in history.