Friday, September 05, 2014

Obama's economy: Hiring plummeted in August, prior months hiring revised downward--again

Hiring slowed in August--and this time the White House can't blame cold weather. Oh, as is almost always the case, the Obama administration revised prior months' hiring--downward.

From AP:
U.S. employers added just 142,000 jobs in August, snapping a six-month streak of hiring above 200,000 and posting the smallest gain in eight months.

The unemployment rate fell to 6.1 percent from 6.2 percent, the Labor Department said Friday. But the rate dropped because more people without jobs stopped looking for one and were no longer counted as unemployed.

Employers also added 28,000 fewer jobs in June and July than the government had previously estimated.

The slowdown was unexpected after most recent economic data had suggested that the economy was growing at a healthy pace. Some analysts noted that other measures of the job market remain solid and that August's figures could mark just a temporary slowdown.
Fewer people getting hired, fewer people looking for work--welcome to Obama's America.

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