As of 2015, the labor force in the U.S is about the same as it was in the 1970s. In order to get to the level of employment we had before the Great Recession by summer of 2017, we would have to add 246,000 jobs per month. The average wage growth rate is around 2% ever since it dropped in 2008 with inflation not even at 2%. The labor force participation rate, which includes Americans who are 16+ with a job or actively looking for a job expressed as a percentage, was 62.6% in June 2015. Since the 1970s, this is the lowest point the labor force participation rate has been at. Unemployment rate stayed at 5.1%, but due to baby-boomers retiring and exiting the workforce, there has been a rise in Americans not in the labor force. Currently, most families have 2 full-time earners providing for the family as opposed to single earners.
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