Labor force participation fell to 63.2 percent, its lowest percentage since August 1978, according to new numbers released by the Labor Department today.
The U.S. economy added just 169,000 jobs last month, below analysts' estimates, while the number of jobs added in June and July was revised down by 74,000, the Labor Department said.
These additions dropped the unemployment rate to 7.3 percent, the lowest in nearly five years. But a decline in job seekers pushed the labor force participation rate to historic lows.
The lower-than-expected numbers are likely to cause Ben Bernanke and the Federal Reserve to think twice about tapering the central bank's $85 billion bond buy back program later this month.
Retail and health care employment rose, while information employment declined, the Labor Department said.
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