Tuesday, September 10, 2013

Economy - #4575 - Latest Unemployment Numbers Reveal Something We Haven't Seen Since 1978 - The Blaze (2) August Jobs Report: We're Dead in the Water - American Thinker

Latest Unemployment Numbers Reveal Something We Haven't Seen Since 1978 - The Blaze - U.S. employers added 169,000 jobs in Augu.4 percent to 7.3 percent, the U.S. Bureau of Labor Statistics reported Friday. “[T]he number of unemployed persons, at 11.3 million, and the unemployment rate, at 7.3 percent, changed little in August,” the report notes. “The civilian labor force participation rate edged down to 63.2 percent in August,” the report adds. In fact, and this is worth noting, the last time the labor force participation rate was this low was in August 1978. Read more.......

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 (2) August Jobs Report: We're Dead in the Water - American Thinker - One of the first economists I read after the monthly, "official" jobs report comes out is James Pethokoukis of AEI's public policy blog. Pethokoukis has a nice way of breaking through all the spin and revealing an employment picture that goes inside the numbers to tell us the true nature of the jobs market. After August's horrible numbers, Pethokousis doesn't seem optimistic.......1. This was the jobs report that was supposed to reflect an economy kicking into higher gear. Goldman Sachs, for instance, was looking for 200,000 net new jobs. And whisper estimates were even higher. Instead, the economy added just 169,000 jobs vs. the 180,000 consensus forecast. 2. What's more, June and July were revised down by 74,000 jobs, putting the three-month average at a paltry 148,000. 3. Even at 169,000 jobs a month, it would take an unbelievable 9 years and 10 months to return to pre-Great Recession employment levels, according to Brookings. 


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