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Nearly One-third of the U.S. Jobless

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Jobless Americans hit a record 92,269,000 in August 2014, according to the United States Bureau of Labor Statistics. The number, consisting of those 16 years and older, signifies a labor force participation rate of 62.8 percent—a 36-year low.

“Of the 155,959,000 who did participate in the labor force, 146,368,000 had a job and 9,591,000 did not have a job but actively sought one,” CNS News reported. “The 9,591,000 are the unemployed. They equaled 6.1 percent of the labor force—or an unemployment rate of 6.1 percent (which was down slightly from the 6.2 percent unemployment rate in July).”

The news affected the stock market, causing a devaluation of the U.S. dollar that was mitigated by news of a ceasefire deal between Ukraine and pro-Russian separatists.

“The dollar fell…after data showed US employers added the fewest jobs in eight months, eroding some confidence in the domestic economy and reviving bets that the Federal Reserve might leave interest rates near zero for longer than anticipated.”

The data also revealed that the number of foreign-born individuals with jobs in the United States hit an all-time high of 24,639,000. 


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