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International Business Times

A Continuously Tough Labor Market Frustrating Job Seekers. Some Have Given Up Looking

CNBC Bureau of Labor Statistics

The labor participation rate is falling. (Credit: Getty Images)

Record numbers of people have stopped looking for jobs and dropped out of the labor market entirely.

CNBC reported that June saw the largest one-month drop in labor participation for people 25 to 54 since June 1976. The figures exclude the COVID-19 pandemic. The network reported that according to the Federal Reserve Bank of St. Louis, about 720,000 people stopped looking for work between May and June.

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