Whether it was caregiving responsibilities, feeling discouraged after a long stretch of unemployment or the realization they’re sitting on a pile of money, many Americans have left the workforce entirely.

Over the past year, about 1 million workers have thrown in the towel. In June alone, 720,000 people left the workforce, the Labor Department estimated. The labor force participation rate, or the percentage of those 16 and older who are working or looking for work, fell to 61.5% in June, marking the lowest reading since March 2021. Excluding the lows seen during the COVID-19 pandemic, it represents the lowest rate in five decades. READ MORE