Visitors Now:
Total Visits:
Total Stories:
Profile image
By Ed Dolan (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

U.S. Job Growth Weak in August but Unemployment Indicators Improve

Friday, September 7, 2012 16:10
% of readers think this story is Fact. Add your two cents.

(Before It's News)

The August job numbers released today by the BLS will come as a disappointment, especially to Democrats who were hoping for a strong headline number during their convention week. The U.S. economy created just 96,000 new payroll jobs last month. An increase of 103,000 private-sector jobs was partly offset by a loss of 7,000 government jobs. Private-sector goods-producing jobs actually fell by 16,000. To make matters worse, the June jobs number was revised downward by 19,000 to a very weak 45,000, and the July jobs gain was revised downward by 22,000 to a more modest 141,000.

The unemployment rate decreased from 8.3 percent to 8.1 percent, but there was not as much good news in that number as it might seem. For one thing, the unemployment rate had already hit 8.1 percent once before, in April, so the August number did not break new ground. Also, much of the drop in the unemployment rate was due to a decrease in the size of the labor force. The number of employed persons, according to the household survey on which the unemployment rate is based, actually fell by 119,000 in August. The unemployment rate is based on a survey of household that is entirely separate from the establishment survey on which the payroll jobs report is based. The two surveys can produce numbers on job loss or gain that differ substantially, partly for methodological reasons and partly because the household survey, unlike the payroll survey, includes farm workers and self-employed persons. >>>Read more

Follow this link to view or download a classroom-ready slideshow with charts of all the latest employment data



Source:

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.