Labor Force Participation Rate Edges Up

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Express Employment Professionals says the labor force participation rate edges up, but more workers are needed to enter the labor pool.

For the second month in a row, the percentage of workers who have given up looking for work declined, as the labor force participation rate increased narrowly, from 62.8 percent in June to 62.9 percent in July. The rate hit a modern-day low of 62.4 percent in September 2015.

“The increase is small, but for two months in row the direction has been good,” said Bob Funk, CEO of Express Employment Professionals former Chairman of the Federal Reserve Bank of Kansas City. “In a low unemployment era, it’s good for workers and the economy if people on the sidelines re-enter the labor force.”

The Bureau of Labor Statistics reported today that the unemployment rate dropped from 4.4 percent in June to 4.3 percent in July, with 209,000 new jobs created last month.

If you would like to arrange for an interview with Bob Funk to discuss this topic, please contact Sheena Karami, corporate communications and PR director, at (405) 717-5966.

About Robert A. Funk
Robert A. “Bob” Funk is chairman and chief executive officer of Express Employment Professionals. Headquartered in Oklahoma City, the international staffing company has more than 780 franchises in the U.S., Canada and South Africa. Under his leadership, Express has put more than 6 million people to work worldwide. Funk served as Chairman of the Conference of Chairmen of the Federal Reserve and was also the Chairman of the Federal Reserve Bank of Kansas City.

About Express Employment Professionals
Express Employment Professionals puts people to work. It generated $3.05 billion in sales and employed a record 510,000 people in 2016. Its long-term goal is to put a million people to work annually. For more information, visit ExpressPros.com.

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Sheena Karami
Express Employment Professionals
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