AI Data Insight
The number of persons not in the US labor force in Q3 2026 (July) pulled back from the previous month's high of 106.1 million to 105.6 million, a single-month decrease of 551,000. However, during the same period, nonfarm payrolls unexpectedly plunged by 23,000 and the labor force participation rate hit a five-year low, indicating that the market is caught in a low-mobility gridlock and boosting expectations for Federal Reserve easing.