The Bureau of Labor and Statistics released new data today that shows the US employment to population ratio is continuing to plummet. As of July 2010, the employment to population ratio stood at 58.9%, down from 59.5% last month.
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Many economists believe that reporting the number employed as a percentage of the civilian population provides a more accurate description of the current state of employment than conjecturing the number of "unemployed" in a population. Since 2000, employment in the US has declined from 64.4% to 58.9% as a percentage of the civilian noninstitutional population, its lowest level since 1982.
Source: Bureau of Labor Statistics
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