America’s unemployment rate is falling - but not for the reason anyone would want. The U.S. economy lost 23,000 jobs in July, yet unemployment slipped to 4.1% because around 264,000 people left the labor force altogether, pushing participation down to 61.4%, its lowest level in more than five years. The concern goes beyond retiring baby boomers: participation among prime-age workers has also weakened, suggesting that some of the country’s most economically active adults are stepping away from work. A lower unemployment rate usually sounds like good news - until fewer people looking for work is what makes the number fall.