August jobs report.....Weak and June/July revised downward

[1srelluc]

August jobs report: Unemployment rate falls to 4.2%, labor market adds 142,000 jobs

The US economy added fewer jobs than expected in August while unemployment ticked lower.

finance.yahoo.com

Revisions to the June and July labor reports showed the US economy added 86,000 fewer jobs than initially reported in those months.

Looks like a .50 rate reduction is in the works now.

Dow futures flat.

Looks like employer's thrust is in employee retention rather than hiring.

 

[JoeB131]

4.2% unemployment and 142K jobs added? That sounds... actually pretty good.

 

[1srelluc]

4.2% unemployment and 142K jobs added? That sounds... actually pretty good.

I'm curious to see how many of those jobs are .gov (state/fed) related.

 

[Blaster]

The average person knows the economy is very weak.

 

[1srelluc]

The average person knows the economy is very weak.

The average (sane) person also knows that we get lied to month to month on job creation.

The Dow loves it as they are licking their chops over a rate cut.....Up about 190.

 

[tyroneweaver]

4.2% unemployment and 142K jobs added? That sounds... actually pretty good.

ya manufacturing constricting 5 monthis in a row is always a good sign.

 

[Harpy Eagle]

August jobs report: Unemployment rate falls to 4.2%, labor market adds 142,000 jobs

The US economy added fewer jobs than expected in August while unemployment ticked lower.

finance.yahoo.com

Revisions to the June and July labor reports showed the US economy added 86,000 fewer jobs than initially reported in those months.

Looks like a .50 rate reduction is in the works now.

Dow futures flat.

Looks like employer's thrust is in employee retention rather than hiring.

So, the actions of the Fed have done what they were intended to do.

 

[tyroneweaver]

I'm curious to see how many of those jobs are .gov (state/fed) related.

there's no question the gov is the biggest hirer. I bet the report was even inflated about 100k
and retirees returning to work cuz they can't afford this economy

 

[Harpy Eagle]

I'm curious to see how many of those jobs are .gov (state/fed) related.

There is a link to the report in your OP.

Construction employment rose by 34,000 in August, higher than the average monthly gain of 19,000
over the prior 12 months. Over the month, heavy and civil engineering construction added 14,000
jobs, and employment in nonresidential specialty trade contractors continued to trend up
(+14,000).

Health care added 31,000 jobs in August, about half the average monthly gain of 60,000 over the
prior 12 months. In August, employment rose in ambulatory health care services (+24,000) and
hospitals (+10,000).

In August, employment in social assistance continued its upward trend (+13,000) but at a slower
pace than the average monthly gain over the prior 12 months (+21,000). Individual and family
services added 18,000 jobs over the month.

Employment in manufacturing edged down in August (-24,000), reflecting a decline of 25,000 in
durable goods industries. Manufacturing employment has shown little net change over the year.

Employment showed little change over the month in other major industries, including mining,
quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and
warehousing; information; financial activities; professional and business services; leisure
and hospitality; other services; and government.

 

[jotathought]

4.2% unemployment and 142K jobs added? That sounds... actually pretty good.

Decline .. decline .. decline .. the trend we continue to see under Biden and Harris. Revisions with downward trends, not meeting expectations, barely meeting maintenance levels. Sorry .. but that unemployment rate will continue to trend upwards.

 

[JGalt]

4.2% unemployment and 142K jobs added? That sounds... actually pretty good.

Mehh. The unemployment rate was 3.5% in September of 2019, with a 1.7% inflation rate.

The current inflation rate is 2.2% for food, 5.10% for rent, 8.8% for transportation, and 4.90% for services.

 

[JGalt]

There is a link to the report in your OP.

Construction employment rose by 34,000 in August, higher than the average monthly gain of 19,000
over the prior 12 months. Over the month, heavy and civil engineering construction added 14,000
jobs, and employment in nonresidential specialty trade contractors continued to trend up
(+14,000).

Health care added 31,000 jobs in August, about half the average monthly gain of 60,000 over the
prior 12 months. In August, employment rose in ambulatory health care services (+24,000) and
hospitals (+10,000).

In August, employment in social assistance continued its upward trend (+13,000) but at a slower
pace than the average monthly gain over the prior 12 months (+21,000). Individual and family
services added 18,000 jobs over the month.

Employment in manufacturing edged down in August (-24,000), reflecting a decline of 25,000 in
durable goods industries. Manufacturing employment has shown little net change over the year.

Employment showed little change over the month in other major industries, including mining,
quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and
warehousing; information; financial activities; professional and business services; leisure
and hospitality; other services; and government.

At least all those illegal aliens are having an easy time finding jobs.

 

[boevans]

Economy is strong, labor market strong, UE 4.3%, CPI and PPI good.

We are over the Trump malaise.

 

[Harpy Eagle]

At least all those illegal aliens are having an easy time finding jobs.

that is a good thing right, at least they are earning a living and not living off the Govt.

 

[JoeB131]

I'm curious to see how many of those jobs are .gov (state/fed) related.

A job is a job.

Mehh. The unemployment rate was 3.5% in September of 2019, with a 1.7% inflation rate.

And then it shot up to 14.9%. Trump being the first president since Hoover to post a net jobs loss.

 

[JGalt]

that is a good thing right, at least they are earning a living and not living off the Govt.

I meant "some" of those illegals, the rest of them are just criminals.

Wait, what am I saying? They're all criminals, they broke the law to enter this country.

 

[Moonglow]

August jobs report: Unemployment rate falls to 4.2%, labor market adds 142,000 jobs

The US economy added fewer jobs than expected in August while unemployment ticked lower.

finance.yahoo.com

Revisions to the June and July labor reports showed the US economy added 86,000 fewer jobs than initially reported in those months.

Looks like a .50 rate reduction is in the works now.

Dow futures flat.

Looks like employer's thrust is in employee retention rather than hiring.

I've had the same job since 2021 and I just keep getting more pay, sucks huh...

 

[Harpy Eagle]

I meant "some" of those illegals, the rest of them are just criminals.

Wait, what am I saying? They're all criminals, they broke the law to enter this country.

criminals needs jobs too!

 

[Harpy Eagle]

I've had the same job since 2021 and I just keep getting more pay, sucks huh...

I have had the same employer since 2013...not the same job though

 

[JGalt]

Economy is strong, labor market strong, UE 4.3%, CPI and PPI good.

We are over the Trump malaise.

Once again, the unemployment rate was 3.5% in September of 2019, with a 1.7% inflation rate.

The current inflation rate is 2.2% for food, 5.10% for rent, 8.8% for transportation, and 4.90% for services.

And the "malaise" was caused by Biden/Harris' buddies the CHICOMs and their little Covid sniffle virus. In case you don't remember this, under Biden/Harris the inflation rate went all the way up to 9.1% with $7 per gallon gas in some states.