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August Jobs Report: 169,000 Jobs Added
ABC News ^ | September 6, 2013 | By SUSANNA KIM

Posted on 09/06/2013 6:35:37 AM PDT by Oldeconomybuyer

Edited on 09/06/2013 7:28:45 AM PDT by Admin Moderator. [history]

Job growth in the U.S. is slowing, the Labor Department confirmed today, reporting that 169,000 jobs were added in August as unemployment fell to 7.3 percent.

Economists were expecting a gain of 180,000 jobs, according to a Bloomberg survey. They expected unemployment to stay at 7.4 percent.

Last month, the Bureau of Labor Statistics reported the economy added 162,000 jobs in July. The bureau today revised that figure downward to 104,000 and it lowered the June figure to 172,000 from 188,000.

"Clearly the labor market is losing momentum," said Lindsey M. Piegza, managing director and chief economist at Sterne Agee, pointing out that the unemployment rate decreased for "inorganic reasons" as the labor force participation rate fell to 63.2 percent in August, the lowest since 1978.

The participation rate has fallen by 1.6 percentage points since the beginning of 2010.

"Some of this is due to the aging of the workforce but it reflects a weak labor market," said Stephen Bronars, senior economist at Welch Consulting. "The unemployment rate is declining for all the wrong reasons - people are dropping out of the workforce."

The difference in the unemployment rate between educated workers and workers with less schooling continues to widen. College grads face an unemployment rate of 3.5 percent while the unemployment rate is 11.3 percent for high school dropouts.

"There is some good news that more people are working full-time in August than in July, but generally this was a disappointing jobs report," Bronars said.

Investors watch the jobs report closely because the Federal Reserve has indicated it plans to cut its stimulative bond purchases as the labor markets gain momentum and economy improves.

"This morning's report confirms the opposite," Piegza said. "Labor market conditions remain stagnant at best. Good enough shouldn't be an incentive to taper but on the heels of strong ISM reports and an upward revision to second quarter GDP, if the Fed was looking for an excuse to taper they can find it."

On Tuesday, a report by the Institute for Supply Management, a trade group, said its manufacturing index showed the fastest factory expansion since June 2011. Last week, the Commerce Department reported that real gross domestic product increased at an annual rate of 2.5 percent in the second quarter, higher than the 1.7 percent advance estimate issued in July.

Boston College economics professor Robert Murphy said the jobs report is not likely to change the consensus that has developed concerning the Fed tapering back later this month on its bond buying program. Other recent data, such as auto sales reaching post-recession highs, indicates the employment report for August is unlikely to change the dynamic toward a gradual exit by the Fed from its stimulus, Murphy said.

Meanwhile, the number of Americans applying for unemployment benefits is near a five-year low, according to the Labor Department's jobless claims report on Thursday.

Private payroll provider ADP said businesses added 176,000 jobs last month, a drop from its figures in June and July.


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events; Politics/Elections
KEYWORDS: failure; marxism; obamanomics; recovery
Last year the BLS results were reported as "a slowdown in the recovery".
1 posted on 09/06/2013 6:35:37 AM PDT by Oldeconomybuyer
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To: Oldeconomybuyer


2 posted on 09/06/2013 6:37:44 AM PDT by Iron Munro ("You bring me the man, I'll find you the crime" - Lavrentiy Beria [and Eric Holder])
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To: Oldeconomybuyer

The number is always contrived, exaggerated, plus, it counts government jobs, which should, count as (-1) job. Horse hockey.


3 posted on 09/06/2013 6:39:04 AM PDT by CincyRichieRich (“Life is hard, but it’s harder when you’re stupid.” John Wayne)
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To: Oldeconomybuyer

lower then expected...unexpectedly


4 posted on 09/06/2013 6:40:00 AM PDT by Doogle (USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Oldeconomybuyer

Hey kids! It’s “Fun With Numbers” Friday!!!


5 posted on 09/06/2013 6:41:21 AM PDT by FlingWingFlyer (The time for impeachment has come.)
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To: Oldeconomybuyer
Hallelujah! Only ten thousand short of keeping up with population growth.

Thank God for North Dakota and Texas.

6 posted on 09/06/2013 6:43:02 AM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all -- Texas Eagle)
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To: Iron Munro

They never give up....down numbers this month, revised lower numbers for the last three months, and BLS or who the hell ever says “we don’t expect the unemployment rate of 7.4% to change”.

They aren’t even saying ‘encouraging’ or ‘trending good’ or any of that here. The Labor Force Participation rate is the LOWEST since 1978 when liberals like to blame Reagan for not improving fast enough....dammit...

Just how the hell much are we going to have to collectively sacrifice for this affirmative action, half breed Muslim’s image to remain unstained? How much, huh?

I mean if he stumbles and falls, like Nixon, they can just keep rewriting history like they have for JFK, RFK, MLK and just make it a fact after a generation of constant lies.....


7 posted on 09/06/2013 6:45:24 AM PDT by Gaffer
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To: Oldeconomybuyer

My son just got job a few months ago, part time, he had to give up on finding a full time job, he started out with a minimum of 32-38hrs a week, he and all his part time co-workers just got cut back to 25-28 hrs.

No reason given, I guess they think it should be obvious.


8 posted on 09/06/2013 6:49:34 AM PDT by PoloSec ( Believe the Gospel: how that Christ died for our sins, was buried and rose again)
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To: Gaffer

The BLS should be BSL...Bull S#!t Lies..............


9 posted on 09/06/2013 6:51:13 AM PDT by Red Badger (It is dangerous to be right in matters where established men are wrong. .....Voltaire)
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To: Iron Munro
...169,000 Jobs Added...

--only if you count payrolls.  Counting all jobs including owners, self-employed, partners, we see 115,000 fewer jobs--HOUSEHOLD DATA
Summary table A. Household data, seasonally adjusted
[Numbers in thousands]

Category Aug. June July Aug. Change from:
2012 2013 2013 2013 July
        2013-
        Aug.
        2013
Employment status  
Civilian noninstitutional population 243,566 245,552 245,756 245,959 203
Civilian labor force 154,647 155,835 155,798 155,486 -312
Participation rate 63.5 63.5 63.4 63.2 -0.2
Employed 142,164 144,058 144,285 144,170 -115
Employment-population ratio 58.4 58.7 58.7 58.6 -0.1
Unemployed 12,483 11,777 11,514 11,316 -198
Unemployment rate 8.1 7.6 7.4 7.3 -0.1
Not in labor force 88,919 89,717 89,957 90,473 516

--and over a half million leaving the workforce this month and a couple million over the past year.  BLS numbers also show that these are folks that want work.:

 

10 posted on 09/06/2013 7:00:14 AM PDT by expat_panama
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To: Oldeconomybuyer
Worst real job outlook (labor participation) since 1979.

- Mainstream Media: We should dance in the Streets

- Wallstreet: The Rich get richer!

- Hollywood: More Perversion, Now!

- The People taking back the House and Senate in 2014:

PRICELESS


11 posted on 09/06/2013 7:10:12 AM PDT by epluribus_2 (he had the best mom - ever.)
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To: expat_panama

When Obama has destroyed the last productive busines in America and there are no more people working the newspaper headline will read:

“EMPLOYMENT STEADY - NO JOBS LOST THIS MONTH”


12 posted on 09/06/2013 7:20:00 AM PDT by Iron Munro ("You bring me the man, I'll find you the crime" - Lavrentiy Beria [and Eric Holder])
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To: Oldeconomybuyer

BLS = BLBS (Do I need to define what the BS stands for?)


13 posted on 09/06/2013 7:25:41 AM PDT by anoldafvet
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To: Oldeconomybuyer

This is really great news. Obama’s ‘Hope’ is finally working.

(Wonder how many of this tremendous leap in jobs was due to hiring by the central socialist government?)


14 posted on 09/06/2013 7:39:56 AM PDT by IbJensen (Liberals are like Slinkies, good for nothing, but you smile as you push them down the stairs.)
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To: CincyRichieRich

Last month’s downward revision is a killer. That’s more than 1/3 of the jobs they say were created. I can see paperwork snafus that account for a couple percentage points....but 1/3+...that’s crazy.


15 posted on 09/06/2013 7:46:29 AM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
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To: Oldeconomybuyer

How many of those “new” jobs are part time and the new 30 hour full time? We’re still millions of jobs behind when W left office.


16 posted on 09/06/2013 8:09:41 AM PDT by bgill (This reply was mined before it was posted.)
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To: Oldeconomybuyer

-115,000: Number of Americans With Jobs Dropped in August


17 posted on 09/06/2013 9:20:46 AM PDT by Hoodat (BENGHAZI - 4 KILLED, 2 MIA)
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To: Oldeconomybuyer

August Jobs Added: 169,000.
August Jobs Lost: 1,400,000.
Additional August Unemployed: At least 1,231,000.

According to freeper ‘Wyatt’s Torch’: 1,200,000+ jobs lost in a single month is ‘normal’ and we should be thankful all has returned to normal. So kwityerbiching about unemployment numbers.


18 posted on 09/06/2013 9:35:52 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: bgill

“How many of those “new” jobs are part time and the new 30 hour full time? “

Last estimate was that only 20,000 added jobs each month are full time/professional jobs. The 180,000 includes counting people twice (people taking two part time jobs), part time jobs, people being let go and starting two or more jobs, etc.


19 posted on 09/06/2013 9:38:21 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: Oldeconomybuyer

We have not had a single month where we have added more jobs than we have lost. Yet, Obama and his propagandist minions, including some here, claim unemployment has dropped. That is not possible.


20 posted on 09/06/2013 9:39:42 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: CincyRichieRich

Job growth in the U.S. is slowing, the Labor Department confirmed today, reporting that 169,000 jobs were added in August as unemployment fell to 7.3 percent.

Economists were expecting a gain of 180,000 jobs, according to a Bloomberg survey. They expected unemployment to stay at 7.4 percent.
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////
Those two sentences together make no sense whatsoever to a sane person.


21 posted on 09/06/2013 10:44:28 AM PDT by RipSawyer
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To: Hoodat

Although the national unemployment rate dropped from 7.4 percent to 7.3 percent in August, the number of Americans who actually held jobs during August dropped 115,000 from July.
////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////

In what universe does this statement make sense?


22 posted on 09/06/2013 10:49:18 AM PDT by RipSawyer
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To: RipSawyer

>>In what universe does this statement make sense?

It makes sense in the Obamaverse. The middle class is being eradicated and no one but the middle class cares—and most of them are too busy watching football and reality shows.

The rich get richer.
The welfare class gains clout as new people add to their ranks each month.
Everyone wins....except the workers.


23 posted on 09/06/2013 4:48:01 PM PDT by Bryanw92 (Sic semper tyrannis)
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To: Bryanw92

Horrible drop out rate, labor force participation, etc. Obamacare is to blame, but Socialist policies are the real killer.

http://confoundedinterest.wordpress.com/2013/09/06/mirage-nonfarm-payrolls-169k-labor-force-participation-falls-to-63-2/


24 posted on 09/06/2013 6:37:02 PM PDT by whitedog57
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To: Gaffer

Idiot liberals. Carter left the economy in shambles and 4 more years of Carter would have been the end of the United States. Reagan improved the economy the most ever despite having to fight with idiot liberals in congress.


25 posted on 09/07/2013 7:33:16 AM PDT by peanu
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Comment #26 Removed by Moderator

Comment #27 Removed by Moderator

To: PoloSec

I forget the stat (a week-old FR thread), but something like 3 years ago for every 7 full-time new job hire there was 1 part-time job hire. Now it is something like 4 part-times for every 1 full time. I’m sure I got the numbers wrong, but it was something REALLY drastic like that that made me reread the sentence a few times.

Found it. I was close. And the flip-flop only took ONE YEAR!!!!!

http://www.freerepublic.com/focus/news/3060049/posts

Bureau of Labor Statistics data show that the ratio of part-time to full-time jobs has completely flipped this year from historical trends. Last year, six full-time jobs were created for every one part time job. This year, only one full-time job is being created for every four new part-time jobs....


28 posted on 09/08/2013 12:05:12 AM PDT by 21twelve ("We've got the guns, and we got the numbers" adapted and revised from Jim M.)
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To: bgill

With people dropping out of the job market, and others only getting parttime jobs, guess what folks? Social Security deposits are going to, if not already, taking serious hits for future payments.

That means that the working class are not going to be fully funded in their Social Security expected payments, while the welfare/Obama free phone people are going to drain more money from the Treasury, thus further crippling the economy.

Expect higher taxes on every level, local, state and federal, if the Democrat policies continue. Expect further cuts in the military, the space program (what’s left of it), and in national security (i.e. NSA, FBI, CIA, DIA, etc).

You don’t seriously think that Obama and his marxists in Congress are going to do any real tax reform, welfare reform, or stop far-left environmental policies that are destroying jobs in the mining (esp. coal) industry, some of the fishing industries, and other energy producing industries (i.e. nuclear power).

It is only going to get worse with planned attacks on diesel fueled engines (trains, trucks, cars and possibly planes), expanded ethanol production which will raise the price of basic foods and feed grains, cuts in lumber operations, denial of drilling permits on federal lands, and the expansion of failed solar energy companies funding.

Obama and his planners are reds, and unless we wake up very soon and thrown a lot of these leftist idiots out of Congress in 2014, America is going to become 2nd rate power and an illegal immigrants paradise.


29 posted on 09/08/2013 1:22:23 AM PDT by MadMax, the Grinning Reaper
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To: 21twelve

The economy took a major hit. It halted. Companies are not investing in the future but are holding onto their cash.


30 posted on 09/08/2013 6:12:29 AM PDT by CodeToad (Liberals are bloodsucking ticks. We need to light the matchstick to burn them off. -786 +969)
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To: Oldeconomybuyer

The worst part of socialism is the boredom.


31 posted on 09/08/2013 6:19:23 AM PDT by central_va (I won't be reconstructed and I do not give a damn.)
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