Posted on 09/04/2015 6:30:22 AM PDT by SeekAndFind
U.S. employers added 173,000 jobs in August, fewer than widely expected, but the unemployment rate still edged down to 5.1 percent, its lowest level since April 2008, the Labor Department said Friday. Meanwhile, wage growth -- which has been stagnant for years -- edged up slightly more than anticipated to 2.2 percent.
Somewhat troubling, though, the labor force participation rate continues to drop, which indicates more Americans giving up on finding work.
The report was forecast to show employers adding 220,000 jobs last month and the unemployment rate was expected to fall to at 5.2 percent, according to analysts polled by Thomson Reuters.
Even so, amid the recent stock market turmoil and concerns of a slowing global economy, economists question whether the U.S. is strong enough to move away from crisis-level interest rates. Many economists are still not seeing the accelerated growth that suggests the economy needs to slow -- or that businesses are experiencing wage pressure.
Wages and salaries increased modestly by 2.2 percent from 1.9 percent a year earlier, according the Labor Department’s Employment Cost Index.
“Wage growth is still really slow,” said Dan North, chief economist at Euler Hermes. Two of the Federal Reserve’s major mandates -- employment and inflation -- are still off of the Federal Reserve’s target, North explained. “This argues against the central bank raising rates this month,” he said.
(Excerpt) Read more at ibtimes.com ...
94 million NOT in labor force...and only 5.1 % unemployed.What a total sham
Freegards
LEX
There are a LOT of “help wanted” signs around these days (at least here in Indiana).
But they are for single digit per hour wages and 29er hours with no benefits.
The American labor force participation rate continues to drop while jobs go up because Americans aren’t getting the jobs,
Well if you’re going to create a New World Ordet, ya gotta break a few nations...
Dictatorships don’t work with free people.
Only the Obama true believers believe this nonsense. Those of us who live in the real world know better.
go to love the way they try and spin the bad news:
“The labor-force participation rate remains at its lowest level since October 1977, a 38-year low. That rate fell to 62.6 percent from the prior month, according to the report released Friday.
The participation rate still hovers at a nearly 40-year low because improvements in the labor market are being offset by the structural headwinds of demographic change: Baby boomers are retiring and young professionals are going back to school.”
i need help on this but are retirees counted in the labor market??
Somewhat troubling...
Since 2000 the office jobs have been going away - but service work and government have expanded so much that bureaucrats and their minions don't see the problem.
After 2020 the government and service jobs will start going away, as Agenda 21 takes hold and the elites trim their rosters of all but politically reliable loyalists.
Bullshit!
I am working two of those jobs while looking for a real job. The real jobs are non-existent in Bammy’s New Economy. Before Obamacare there were quite a few real jobs.
Well, how many is the right number not to be in the labor force? How many students, housewives, and early retirees should we have?
If you are working or if you are filing for unemployment benefits then you are in the “ labor market” at least for this phony figure
If you are retired, on welfare, stopped looking for job, stopped filing unemployment or ran out of unemployment benefits- then you are not unemployed
The latter being why the unemployment rate keeps “dropping”
The day everyone stops looking for work and stops filing for unemployment , we will reach 0% unemployed!
The point that is important is that each of these developments is inflated by necessity, not choice. Many boomers are taking retirement because they were laid off permanently and cannot find jobs. Many "young professionals" (whatever that includes) are going back to school to get skills needed to find another job. Neither of these is a neutral "demographic" development as the article tries to imply.
Believe that’n, and I’ll tell ya another’n...
Looks like the Dow really believes that.
Those boomers that are retiring early out of necessity are also receiving permanently reduced Social Security benefits. Retiring at 62 means getting a 25% lower amount every month for the rest of their lives. This will really hurt them in their old age.
LOL...we won't make it that far.
5.1% yeah, I keep wondering just how low that number can go until even the most dense start to scratch their heads and wonder,
Neither Romney nor Jeb would ever point out whats wrong here, so I’m left to conclude they intend/intended to use the same shameless number manipulations when their in office,
Except the press will never cover for them as they do this evil Obama creature they all worhip,
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