The U.S. jobs markets has gone through many twists and turns over the past 40 years. Here is a look at some key statistics and how they have changed.
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Labor force: Every person above 16 years old who is neither in an institution (such as a jail) or actively serving in the Armed Forces. People who have stopped looking for work after four weeks or who become unavailable for work drop out of the labor force.
Unemployed: An individual who is without work but has looked for a job in the past four weeks and is currently available to work.
Unemployment rate: The proportion of the labor force that is unemployed.
Labor force participation rate: The proportion of the labor force that is currently employed or unemployed.
The following charts, created by FOX Business, are based on seasonally-adjusted estimates by the Labor Department.
*The earnings listed on the above chart are not adjusted for inflation.