Yellen Has No Idea What the Current Labor Force Participation Rate Is

‘Let me just have a look’

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Federal Reserve Chairman Janet Yellen was stumped during an oversight hearing Wednesday after being asked what America's labor force participation rate is.

Rep. Frank Guinta (R-N.H.) asked Yellen if she could tell him what the rate currently is.

The Fed head appeared flummoxed, and then began awkwardly flipping through her large binder of material, searching for the answer.

"Is it below 62 percent?” Guinta asked. 

“No, I don’t believe so," Yellen said, still sorting through her materials. "Let me just have a look."

Finally, Yellen reported, "It’s currently 62.8 percent.”

That rate -- which equates to roughly 95 million Americans not in the labor force -- is near its 38-year low, a fact that Yellen also appeared unaware of. 

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