Payroll employment increases in August (+142,000); unemployment rate changes little (6.1%)
Source: http://www.bls.gov/
THE EMPLOYMENT SITUATION -- AUGUST 2014
Total nonfarm payroll employment increased by 142,000 in August, and the
unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor
Statistics reported today. Job gains occurred in professional and business
services and in health care.
Household Survey Data
In August, both the unemployment rate (6.1 percent) and the number of unemployed
persons (9.6 million) changed little. Over the year, the unemployment rate and
the number of unemployed persons were down by 1.1 percentage points and 1.7 million,
respectively. (See table A-1.)
Among the major worker groups, the unemployment rates in August showed little or
no change for adult men (5.7 percent), adult women (5.7 percent), teenagers (19.6
percent), whites (5.3 percent), blacks (11.4 percent), and Hispanics (7.5 percent).
The jobless rate for Asians was 4.5 percent (not seasonally adjusted), little
changed from a year earlier. (See tables A-1, A-2, and A-3.)
The number of long-term unemployed (those jobless for 27 weeks or more) declined
by 192,000 to 3.0 million in August. These individuals accounted for 31.2 percent
of the unemployed. Over the past 12 months, the number of long-term unemployed has
declined by 1.3 million. (See table A-12.)
Read more: http://www.bls.gov/news.release/empsit.nr0.htm
= new reply since forum marked as read
I expect like previous reports, it be revised over the next couple months.
I was not able to log onto a computer yesterday. Ordinarily I would let nothing stop me, but there were some things going on that required my attention.
By tradition, here is the link to The Wall Street Journal.
Jobs Report: Everything You Need to Know
8:00 am ET
Sep 5, 2014
Today was Jobs Friday, when for one ever-so-brief moment, the interests of Wall Street, Washington and Main Street all turned to focus on one thing: Jobs.
The economy added 142,000 jobs in August, well below the 225,000 estimate that economists polled by The Wall Street Journal had expected. As expected, the unemployment rate dropped to 6.1% after ticking up to 6.2% in July.
Here at MoneyBeat HQ, we crunched the numbers, tracked the markets and compiled the commentary before and after the data crossed the wires. Now that we’re done, feel free to weigh in yourself via the comments section. And while you’re here, why don’t you sign up to follow us on Twitter.
== == == ==
What is important about these statistics is not so much this month’s number, but the trend. So let’s look at some earlier numbers.
ADP® (Automatic Data Processing), for employment in August 2014:
ADP National Employment Report Shows 204,000 Jobs Added in August
http://www.democraticunderground.com/1014887794
Bureau of Labor Statistics, for employment in July 2014:
Payroll employment increases in July (+209,000); unemployment rate changes little (6.2%)
http://www.democraticunderground.com/1014860280
ADP® (Automatic Data Processing), for employment in July 2014:
ADP National Employment Report Shows 218,000 Jobs Added in July
http://www.democraticunderground.com/1014858666
Bureau of Labor Statistics, for employment in June 2014. Because the July 4th holiday fell on a Friday, the report went out a day early. The big thread at DU was started by Hissyspit:
BREAKING: U.S. Jobless Rate Falls to 6.1% (Lowest Since Sept. 2008), June Payrolls Rise 288,000
http://www.democraticunderground.com/1014838678
Mine was over in the Economy forum:
Payroll employment increases by 288,000 in June; unemployment rate declines to 6.1%
http://www.democraticunderground.com/111654556
ADP® (Automatic Data Processing), for employment in June 2014:
U.S. Economy Added 281,000 Private-Sector Jobs in June, According to ADP National Employment Report.
http://www.democraticunderground.com/1014837988
Bureau of Labor Statistics, for employment in May 2014:
Payroll employment rises by 217,000 in May; unemployment rate unchanged at 6.3%
http://www.democraticunderground.com/1014820273
ADP® (Automatic Data Processing), for employment in May 2014:
U.S. Economy Added 179,000 Private-Sector Jobs in May, According to ADP National Employment Report
http://www.democraticunderground.com/1014818511
Two more things:
Meet FRED, every wonk’s secret weapon
FRED stands for Federal Reserve Economic Data. It serves as an online clearinghouse for a wealth of numbers: unemployment rates, prices of goods, GDP and CPI, things common and obscure. Today, FRED is more than a little bit famous, thanks to the public’s fascination with economic data.
Federal Reserve Economic Data
And:
So how many jobs must be created every month to have an effect on the unemployment rate? There's an app for that.
http://www.frbatlanta.org/chcs/calculator/index.cfm
Federal Reserve Bank of Atlanta Jobs Calculator™
Well, enough of that. On with the show.
