The Labor Department’s official unemployment rate — the most well-known gauge of the labor market’s health — counts as unemployed only those who aren’t working but are actively seeking a job. That leaves out millions who stopped working and looking for work since the coronavirus hit the economy in early 2020, leaving many businesses struggling to hire, the Wall Street Journal reported. A September drop would be good news if it primarily reflects job growth. Economists estimate that employers added 485,000 jobs to payrolls last month, which would be a pickup from August but not as large as the monthly gains of early summer. But the decline would be worrisome if it is also due to potential workers staying on the sidelines. In Friday’s report, economists will be closely watching the labor-force participation rate, or the share of adults working or seeking work. It has held at or below 61.7% since April, well down from 63.4% in January 2020.
