As it’s Labor Day, here are a few facts about the U.S. jobs market.
• The unemployment rate was 5.1% in August. While officials say that understates the number of Americans who want work but have given up trying, it’s historically on the low side, as it’s below the 5.6% median since the Labor Department starting keeping track in 1948.
• There were 149 million people employed last month, and 8 million looking for a job.
• The labor-force participation rate of 62.6% was tied for a nearly 38-year low, reflecting the aging of the population, more people studying for degrees, and those who have given up looking for a new job.