Today's nonfarm payrolls number was well below expectations . It came in at 88,000 versus the 190,000 predicted by market economists.
Yet the unemployment rate still ticked down to 7.6 percent from 7.7 percent last month.
The explanation: the labor force participation rate fell to 63.3 percent, its lowest level since 1979.
The chart below shows the decline.
Business Insider/Matthew Boesler, data from St. Louis Fed
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