The unemployment rate dipped below 6% for the first time in six years, as the U.S. Department of Labor reported today (Friday) that employers added 248,000 new jobs in September. The gains took the unemployment rate down to 5.9% from August's 6.1% and beat consensus estimates of 215,000.
U.S. jobs report
The August jobs report was disappointing indeed, missing estimates by a whopping 83,000.
Last month employers added the fewest jobs in eight months, the U.S. Department of Labor reported Friday. Payrolls increased by an uninspiring 142,000 in August, handily missing the median forecast for an increase of 230,000.
U.S. job growth slowed more than expected in July, resulting in an unexpected rise in the unemployment rate, according to the July jobs report just released today (Friday) by the U.S. Department of Labor.
After surging (a revised) 298,000 in June, nonfarm payrolls increased by 209,000 last month. The unemployment rate ticked up to 6.2% from 6.1%.
Stock market today, July 17, 2014: The Dow Jones Industrial Average finished up yesterday (Wednesday) for its 15th record-breaking close in 2014. U.S. Federal Reserve Chairwoman Janet Yellen testified before Congress, reiterating that the economy remains vulnerable to a struggling job market and stagnating wages - two reasons why the central bank will continue its loose monetary policy in 2014.
Optimism surrounded Thursday's release of the June U.S. Labor Department Jobs Report, but although the numbers were better than expected, we still have plenty to worry about, and the economy is still in trouble.
Employers added 288,000 jobs in June. The unemployment rate dipped to 6.1% from 6.3%, the lowest level since September 2008.
The May jobs report had the potential to pass for decent, but then we looked at the labor force participation rate...
Following two months of dismal growth, the February jobs report suggests an improving labor landscape. But despite the numbers, the employment picture remains cloudy at best.
The Labor Department reported today (Friday) that employers added 175,000 jobs last month, beating expectations of 150,000. Yet the February figure is still well below the 280,000 jobs created in the same month a year ago.
The January jobs report is another sign of how weak our economic recovery is - and it's not even taking into account all of the unemployed.
Friday, the Labor Department reported employers added 113,000 jobs last month. The unemployment rate ticked down to 6.6% from 6.7% in January, a rate not seen in five years.
But we know that number doesn't tell the full story...
The decline in the unemployment rate is due to an ongoing trend: discouraged workers exiting the labor force.
The actual unemployment rate, the U-6 rate, which includes "marginally attached workers plus total employed part time for economic reasons," remains at an unhealthy 12.7%.
After several months of promising reports, December's brutally low numbers delivered a sobering dose of reality. Even a welcome decline in the unemployment rate to 6.7% masked bad news. But the key point now is what this jobs report tells us about the health of the U.S. economy, and, in particular,
The October jobs report looks surprisingly strong – until you dig deeper. Employers increased headcount, yet the labor force hit a 35-year low. The unemployment rate actually went up, as did the number of temporary workers. All those trends are going in the wrong direction.
Money Morning Capital Wave Strategist Shah Gilani joined Stuart Varney of FOX Business' "Varney & Co." today (Wednesday) to go over the bungled and belated September jobs report.
This month's Bureau of Labor Statistics' report, initially scheduled for release Oct. 4, was delayed until Oct. 22 on account of the government shutdown. But it looks like the extra days didn't help sort out jobs data - the BLS is now under fire for releasing numbers that simply don't add up.
The September jobs report, delayed for weeks because of the government shutdown, is not at all what anyone expected. Not only did the headline number of 148,000 jobs fall far short of expectations but a lot of the underlying numbers just don't quite add up.
Investors generally took the lackluster August jobs report as a sign the U.S. Federal Reserve will hold off announcing a tapering of its $85 billion a month bond program at the Sept. 17-18 Federal Open Market Committee (FOMC) meeting.
The Labor Department reported today (Friday) that U.S. job growth last month increased by a less-than-expected 169,000 jobs, adding to signs that economic growth likely slowed in the third quarter. The unemployment rate dipped in August to 7.3% from 7.4%. Economists were looking for employers to have increased headcount in August some 180,000.
By now, you've had a few days to digest the "wonderful" jobs numbers reported from Washington last Friday.
Well, don't get too excited about the economy. We've been conned again.
First off, 59% of all jobs created this year are in 3 sectors: Leisure/Hospitality, Retail Trade and Administrative/Waste Services. Wages in those sectors have fallen by 0.7%. These jobs pay an average of $15.80 per hour versus the $23.98 average hourly wage. Which means "jobs creation" just equals cheaper labor.
The American jobs participation rate is at 34-year lows and falling, as people give up and leave the workforce.
Underemployment is between 14% and 15% and rising.