The Economy Adds 156,000 Jobs in August, and Unemployment Was Little Changed at 4.4%

Posted by | September 01, 2017 | Uncategorized | No Comments

By Kenneth Quinnell

BLS

The Economy Adds 156,000 Jobs in August, and Unemployment Was Little Changed at 4.4%

BLS

The U.S. economy added 156,000 jobs in August, and unemployment was little changed at 4.4%, according to figures released this morning by the U.S. Bureau of Labor Statistics. This continues the recovery of the labor market at a tempered rate, which means the Federal Reserve’s Open Market Committee should continue to let the economy grow and not raise interest rates.

In response to the August jobs numbers, AFL-CIO Chief Economist William Spriggs tweeted:

Wages, August to August, up only 2.5% low wage pressures means @federalreserve has lots of room for growth to continue @AFLCIO @pdacosta

— William E. Spriggs (@WSpriggs) September 1, 2017

After falling, labor force participation stabilizes with slow increases, slightly more for women @IWPResearch @lizshuler @AFLCIO pic.twitter.com/ysjVKHzoSB

— William E. Spriggs (@WSpriggs) September 1, 2017

Black male unemployment up from 7.0% in July to 7.8% in August in part due to more entering the labor force looking for work @CBTU72 @AFLCIO

— William E. Spriggs (@WSpriggs) September 1, 2017

Those out of the labor force in July were 2.3 times more likely to get a job in August than stuck looking on return to labor force @aflcio

— William E. Spriggs (@WSpriggs) September 1, 2017

Broadest measure of unemployment stays improved over last year at 8.6% but improvement has stalled last three months @AFLCIO pic.twitter.com/nV0obdKw7n

— William E. Spriggs (@WSpriggs) September 1, 2017

Last month’s biggest job gains were in manufacturing (36,000), construction (28,000), professional and technical services (22,000), health care (20,000), food services and drinking places (9,000), and mining (7,000). Employment in other major industries, including wholesale trade, retail trade, transportation and warehousing, information, financial activities, and government, showed little change over the month.

Among the major worker groups, the unemployment rates for teenagers (13.6%), blacks (7.7%), Hispanics (5.2%), adult men (4.1%), adult women (4.0%), Asians (4.0%) and whites (3.9%) showed little or no change in August.

The number of long-term unemployed (those jobless for 27 weeks or more) was down slightly in August and accounted for 24.7% of the unemployed.

Kenneth Quinnell
Fri, 09/01/2017 – 11:17

Source: AFL-CIO

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