Posted on 09/07/2012 5:33:38 AM PDT by xzins
THE EMPLOYMENT SITUATION -- AUGUST 2012
Total nonfarm payroll employment rose by 96,000 in August, and the unemployment rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, in professional and technical services, and in health care.
Household Survey Data
The unemployment rate edged down in August to 8.1 percent. Since the beginning of this year, the rate has held in a narrow range of 8.1 to 8.3 percent. The number of unemployed persons, at 12.5 million, was little changed in August. (See table A-1.)
Among the major worker groups, the unemployment rates for adult men (7.6 percent), adult women (7.3 percent), teenagers (24.6 percent), whites (7.2 percent), blacks (14.1 percent), and Hispanics (10.2 percent) showed little or no change in August. The jobless rate for Asians was 5.9 percent (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)
In August, the number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 5.0 million. These individuals accounted for 40.0 percent of the unemployed. (See table A-12.)
Both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) declined in August. The employment-population ratio, at 58.3 percent, was little changed. (See table A-1.)
The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 8.0 million in August. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. (See table A-8.)
In August, 2.6 million persons were marginally attached to the labor force, essentially unchanged from a year earlier. (These data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. (See table A-16.)
Among the marginally attached, there were 844,000 discouraged workers in August, a decline of 133,000 from a year earlier. (These data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.7 million persons marginally attached to the labor force in August had not searched for work in the 4 weeks preceding the survey for reasons such as school attendance or family responsibilities. (See table A-16.)
Establishment Survey Data
Total nonfarm payroll employment rose by 96,000 in August. Since the beginning of this year, employment growth has averaged 139,000 per month, compared with an average monthly gain of 153,000 in 2011. In August, employment rose in food services and drinking places, in professional and technical services, and in health care. (See table B-1.)
Employment in food services and drinking places increased by 28,000 in August and by 298,000 over the past 12 months.
Employment in professional and technical services rose in August (+27,000). Job gains occurred in computer systems design and related services (+11,000) and management and technical consulting services (+9,000).
Health care employment rose by 17,000 in August. Ambulatory health care services and hospitals added 14,000 and 6,000 jobs, respectively. From June through August, job growth in health care averaged 15,000 per month, compared with an average monthly gain of 28,000 in the prior 12 months.
Utilities employment increased in August (+9,000). The increase reflects the return of utility workers who were off payrolls in July due to a labor-management dispute.
Within financial activities, finance and insurance added 11,000 jobs in August. Employment in wholesale trade continued to trend up. Employment in temporary help services changed little over the month and has shown little movement, on net, since February.
Manufacturing employment edged down in August (-15,000). A decline in motor vehicles and parts (-8,000) partially offset a gain in July. Auto manufacturers laid off fewer workers for factory retooling than usual in July, and fewer workers than usual were recalled in August.
Employment in other major industries, including mining and logging, construction, retail trade, transportation and warehousing, information, and government, showed little change over the month.
The average workweek for all employees on private nonfarm payrolls was unchanged at 34.4 hours in August. The manufacturing workweek declined by 0.2 hour to 40.5 hours, and factory overtime was unchanged at 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours. (See tables B-2 and B-7.)
In August, average hourly earnings for all employees on private nonfarm payrolls edged down by 1 cent to $23.52. Over the past 12 months, average hourly earnings rose by 1.7 percent. In August, average hourly earnings of private-sector production and nonsupervisory employees edged down by 1 cent to $19.75. (See tables B-3 and B-8.)
The change in total nonfarm payroll employment for June was revised from +64,000 to +45,000, and the change for July was revised from +163,000 to +141,000.
______________ The Employment Situation for September is scheduled to be released on Friday, October 5, 2012, at 8:30 a.m. (EDT).
Pretty horrible report: 15,000 manufacturing jobs LOST, Labor Force participation rate dove. July revised downward.
Yet... 8.1%. THAT's what the regime will glom onto! Friggin' amazing.
How many people look at 8.1% and think its great news, alot sadly
Some tidbits:
Both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) declined in August.
Total nonfarm payroll employment rose by 96,000 in August. Since the beginning of this year, employment growth has averaged 139,000 per month, compared with an average monthly gain of 153,000 in 2011.
Once again, the only reason the number doesn’t kill this president is because so many people just quit looking for work.
They will work hard to discourage more workers for next month.
Why is it that bad employment data always seems to drive the unemployment rate down? (At least when Obama is in office.)
Maybe we ought to take a fork and stick in our empty chairs?
How can anyone be OFF by almost 20,000 jobs? Per month?
If NOT by design?
What a farce! All the employment stats are down, but they take more people out of the workforce (not looking anymore) to manipulate the number to 8.1% to help The One! In early Oct. these numbers will all adjust but no one will be watching, just like they just adjusted employment numbers down.
Unbelievable! The One will proclaim that he is on the right track even though the real reason is because less people are even trying to get a job!. Disgusted.
Interestingly, here is marketwatch.com’s front page headline:
Jobless rate falls to 8.1%
Click on that and you get closer to the truth for your next headline:
Job growth slows sharply in August
And, in the very short article the front page headline is totally debunked:
The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force.
What’s that smell? I see smoke. Oh, it’s just the BLS cooking the books again.
In the race for November, I confidently predict 7.9% at the end of October.
From Jim Pethokoukis: If labor force rate had just stayed same as last month, unemployment rate would be 8.4%
They keep on playing funny math with these numbers. They had to REMOVE 300,000 people from the workforce to “arrive” at this 8.1%. The problem is that these people are still jobless and given up. If you use the same workforce numbers in 2008, it rate would be 11 %.
Horse Crap.
IOW, about a third of the job gain of 96,000 were McJobs.
Few.
People are able to look outside, and talk to friends and family.
Yeah, some spinners on the internet will try, but this isnt fooling anyone.
I’ve been predicting for ages now that the Obama administration will use hook and crook to get the unemployment number below 8.0% by election day.
Looks like they’re right on track.
I mean, how is it possible, with only two-thirds of the new jobs required to keep pace with the increase in population, that the number dropped to 8.1?
Oh, how convenient that "news" during the Liars National Convention. The Gubmint must have manipulated the hell out of the numbers to make the Liars look good. Not a speck of truth anywhere to be found...as usual.
Rubbish.
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