Labor Force Participation Rate Bumps Up
OKLAHOMA CITY - July 07, 2017
In a Low Unemployment Rate Marketplace, More Workers Are Needed
The unemployment report released today by the Bureau of Labor Statistics (BLS) shows a small uptick in the labor force participation rate, a welcome development for the economy.
"It's good to see even this small increase in the labor force participation rate," said Bob Funk, CEO of Express Employment Professionals, and the former Chairman of the Federal Reserve Bank of Kansas City. "Businesses are having a hard time finding workers. It's important for people to get off the sidelines and into the workforce."
The BLS reported today that the unemployment rate increased from 4.3 percent to 4.4 percent, with 222,000 new jobs created last month, while the labor force participation rate edged up from 62.7 percent in May to 62.8 percent in June. The rate hit a modern-day low of 62.4 percent in September 2015.
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 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.