August Jobs Report

The economy added 96,000 jobs in August. A lower number than last month was expected, by me at least for no other reason than it fits the pattern (see last report). But it seems that the continuing/worsening crisis in Europe and the slow down of Emerging Economies (most notably China) has taken its toll in slowing down US job growth even more.

Worse, the number of people looking for work declined as well, bringing the Unemployment Rate down to 8.1%. Previous month's numbers were revised downward a total of 41,000, as indicated by the red line (which shows figures from before the last revision).