[awhitby]

This is the labor force, as it says: "the sum of employed and unemployed persons."

So it only includes people who are working or looking for work. This kind of distinction is the key to the OP.

So thankfully the dip is mostly not deaths, but for example

- a second earner in a household who lost a job in April but hasn't looked for new work since, due to child care commitments

- a cook who was furloughed but knows there are no new kitchen jobs going right now, but isn't yet willing to do something else, so isn't looking

- a person who lost a job one year out from retirement and is just retiring early

https://www.bls.gov/cps/definitions.htm#nilf