The Civilian Employment Population Ratio, which measures the number of Nonfarm Employees (133 million) as a percentage of the Civilian Noninstitutional Population (243 million), clocked in today at 58.3%.
I'm not sure why they use the CNP to calculate this important ratio when it seems to me it would be a more revealing and accurate number if Working-Age Population (239 million) was used as the denominator. If you use the most recent data available for WAP the number of adults working as a percent of the number of adults capable of working is actually closer to 55%. Do I hear 50%?
If you spend too much time thinking about how the BLS comes up with its numbers eventually you become at risk of having your head explode. Again, thank God for FRED. At least he's willing to call it as it really is.