Hiring Slowed in August; Jobless Rate Fell to 8.1%

Job growth slowed substantially in August, increasing the political pressure on the White House and strengthening the argument for new action by Federal Reserve policy makers to stimulate the economy when they meet next week.

The economy added a total of 96,000 jobs in August, down from a revised figure of 141,000 in July and well below the 125,000 level economists had been expecting.

The jobless rate fell to 8.1 percent, from 8.3 percent in July, but economists said that was a sign more unemployed workers were discouraged about the prospect of finding new jobs, rather than an indication new jobs were being created.  Read more

1 reply

  1. Just to remind the readers: The ‘jobless rate’ is a misleading figure. The real facts are much worse, because after a few months on the ‘job-seeker’ list the individuals are considered ‘hopeless cases’ and are becoming ‘social security cases’ and are no longer counted as ‘jobless’…

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