美国劳动力参与率在2026年6月下降至61.6%，创下1976年以来的最低水平（疫情期间除外）[1]。这一下滑延续了过去半年的颓势，参与率从2025年12月的62.7%下跌0.9个百分点[1]。
分析显示，这轮下降由三股力量共同推动[1]。其中统计局在1月份进行的人口控制修正贡献了43%的跌幅，相当于下拉0.35个百分点[1]；人口老龄化因素贡献了16%的跌幅，每月稳定拉低约0.02个百分点[1]；工作年龄人群行为变化则贡献了41%的跌幅，累计下拉0.33个百分点[1]。其中25至54岁工作年龄人群的参与率在6月份单月下跌0.6个百分点[1]，这是自1968年1月以来最大幅度的单月下降[1]。
The U.S. labor force participation rate declined to 61.6% in June 2026, marking the lowest point since 1976 outside of the pandemic period [1]. This represents a sharp drop of approximately 0.9 percentage points over six months, falling from 62.7% in December 2025 [1].
Analysis of the decline reveals three primary drivers. Population control adjustments made by the Bureau of Labor Statistics in January accounted for 43% of the decrease, contributing approximately 0.35 percentage points [1]. Demographic aging represented 16% of the decline, contributing roughly 0.14 percentage points [1]. The remaining 41% of the drop resulted from changing labor force participation patterns among working-age individuals, primarily concentrated in June [1]. The participation rate for workers aged 25 to 54 fell by approximately 0.6 percentage points in June alone, marking the largest single-month decline in working-age participation since January 1968 [1].