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A record 93,175,000 Americans 16 and older did not participate in the labor force in March, as the labor force participation rate dropped to 62.7 percent, the lowest level seen in 37 years, the Bureau of Labor Statistics (BLS) reported on Friday.

Last month the BLS reported that the labor force participation rate hovered between 62.9 percent and 62.7 percent in the eleven months from April 2014 through February 2015.

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