Employment

Weak Job Growth and a Dip in Labor Participation…Good Times

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MTAPhotos / Foter

From the fun folks at the Bureau of Labor Statistics (BLS) comes news that job creation kind of sucked last month, and that the number of people actually participating in the work force slid a hair. Yes, this is that recovery you were waiting for. You just didn't know it would blow chunks.

Says the BLS:

Total nonfarm payroll employment increased by 142,000 in August, compared with an average monthly gain of 212,000 over the prior 12 months. In August, job growth occurred in professional and business services and in health care.

The numbers from June and July were revised too. "The change in total nonfarm payroll employment for June was revised from +298,000 to +267,000, and the change for July was revised from +209,000 to +212,000."

Well, that's nice about professional and business services and health care, I guess. It's probably managers trying to figure out how (and if) to pay doctors under the new Obamacare scheme.

The unemployment rate is "little changed" at 6.1 percent, down from 6.2 percent, but the labor force participation rate slipped just a hair (pictured), to match. It now stands at 62.8 percent, down from 62.9 percent in July, and just a tad off from the 66 percent of a decade ago.

Labor Force Participation

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9 responses to “Weak Job Growth and a Dip in Labor Participation…Good Times

  1. Pure, unadulterated Weigel chum.

  2. Recovery Summer V – Math is Hard

    Green shoots! Green shoots! S&P!!!!!

  3. Recovery Summer V, Stayin’ Alive!

  4. A labor participation rate of around 62%? That’s just terrible. And I believe the USA has over 10 million people on disability. Taking those two figures into account, they paint a very gloomy picture for future economic growth and sustainability in this country. Maybe we should try to lower our corporate taxes to encourage businesses to stay, rather than leave and at the same time, recruit more businesses to come here? Nah, Congress has more important shit to worry about.

  5. Your lunchtime derp: Anjem Choudary describes his vision of Islamic Britain

    https://www.youtube.com/watch?v=-LExtPhPnqk

    And for dessert: Yawn Vanity interviews Choudary on the subject of his ISIS pals:

    https://www.youtube.com/watch?v=znLj476oq2E

  6. We’re in the money, we’re in the money
    We’ve got a lot of what it takes to get along
    We’re in the money, the skies are sunny
    Old man Depression, you are through
    You’ve done us wrong

    We never see a headline about a breadline today
    And when we see the landlord
    We can look that guy right in the eye
    We’re in the money, come on, my honey
    Let’s spend it, lend it, send it rolling along

    Gone are my blues and gone are my tears
    I’ve got good news to shout in your ears
    The silver dollar has returned to the fold
    With silver you can turn your dreams to gold

    We’re in the money, we’re in the money
    We’ve got a lot of what it takes to get along
    We’re in the money, the skies are sunny
    Old man Depression, you are through
    You’ve done us wrong

    We never see a headline about a breadline today
    And when we see the landlord
    We can look that guy right in the eye
    We’re in the money, come on, my honey
    Let’s spend it, lend it, send it rolling along

    We’re in the money, we’re in the money
    We’ve got a lot of what it takes to get along
    We’re in the money, the skies are sunny
    Old man Depression, you are through
    You’ve done us wrong

    We never see a headline about a breadline today
    And when we see the landlord
    We can look that guy right in the eye
    We’re in the money, come on, my honey
    Let’s spend it, lend it, send it rolling along

    1. The question is, are we in the money?

  7. iA labor participation rate of around 62%?

    Don’t worry, there are millions of Americans remodeling each others’ kitchen, braiding hair, and building choppers for cash.

    Let the good times roll.

  8. Lies, Damn Lies and Statistics. Now we have BLS.

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