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Health

What is the labor force participation rate? How has it changed during the pandemic?

The most recent jobs report showed that the unemployment rate inched down from 6.9% in October to 6.7% in November as the nation gained 245,000 jobs. But the labor force shrank by 400,000 people over the same period, dropping the labor force participation rate from 61.7% to 61.5%. How is labor force participation related to unemployment — and what does it mean for the nation’s economic recovery from the COVID-19 pandemic?

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