august jobs report
The U.S. economy added 156,000 jobs last month.
This comes after two straight months of robust gains.
The unemployment rate just hit a 7-year low.
In a surprisingly downbeat look at last month's job market, today's jobs report shows payrolls up only 142,000 in August, a downward revision to June's gain, flat weekly hours, and a slight tick down in the labor force.
The disappearance of workers from the labor force, in particular, has been a troubling feature of the job market for a long
Similar fights in the past have led to the U.S. credit rating being downgraded in August 2011 and the destructive fiscal
The unemployment rate, meanwhile, fell in part because 37,000 workers dropped out of the labor force, meaning they gave up
The most direct way to create jobs, the only surefire way to be sure stimulus will work, is direct job creation. But we live in a dark age where any fiscal policy to create jobs is viewed as European socialism, despite the fact that Europe's even more austere than we are.
"What we’re doing is a radical departure from historical practice," Wolfers said. "We've ended up with Tea Party economic
Notwithstanding citizens dropping out of the labor force, 5 million Americans were classified in August as "long-term unemployed." Meanwhile, teenage joblessness rose to over 24% -- an alarming level given the risk that out of work youth face in going from being unemployed to being unemployable. As hard as Ben Bernanke and his Fed colleagues try -- and they have been trying very hard, taking monetary policy ever deeper into unfamiliar/experimental territory -- the institution does not have the proper tools to deal with our unemployment crisis. The bottom line is a simple one. It should concern us all as citizens and parents. And it is worth repeating over and over again: If Congress is not careful, these trends will further increase an already-material risk that, for the first time in a very long time, our children's generation may be worse off than that of their parents.
The unemployment rate fell to 8.1 percent from 8.3 percent in July, but only because more people gave up looking for work
How far have we really come in the last hundred years? Workers and their rights are under attack all across the country at the local, state, and national levels.