Labor Force Participation Rate is Flat

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Express Employment Professionals CEO Bob Funk says labor force participation is flat and needs a change.

Labor Force Participation Rate

Even with the retirement of baby boomers, the economy needs more people entering the workforce. A rising rate would be a sign of worker confidence in themselves and in the economy. - Express CEO Bob Funk

The unemployment report released today shows the labor force participation rate was unchanged in November. The rate remained at 62.7 percent, down slightly from 62.9 percent at the start of the year. Since January 2014, the rate has barely budged, remaining at a level almost always between 62.7 percent and 62.9 percent.

The Bureau of Labor Statistics reported today the unemployment rate fell to 4.1 percent with 228,000 new jobs created in November. The labor force participation rate is a key measure of jobs related to economic growth.

“For four years, this key measurement has been flat and that’s a bad sign,” said Bob Funk, CEO of Express Employment Professionals, and the former Chairman of the Federal Reserve Bank of Kansas City. “Even with the retirement of baby boomers, the economy needs more people entering the workforce. A rising rate would be a sign of worker confidence in themselves and in the economy.”

If you would like to arrange for an interview with Bob Funk to discuss this topic, please contact Sheena Karami, Director of Corporate Communications and PR, 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 770 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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