August employment

Somewhat disappointing employment news from the BLS this morning. They report only 142,000 net new jobs in August with the unemployment rate ticking down to 6.1% (where it was in June). Economists had expected a gain of 230,000 jobs.
The story for involuntary underemployed (part time for economic reasons) was mixed. The total number of involuntary underemployed declined in August. However, that improvement was due to a decline in number of workers part time because of slack work. The number of those who could only find part time work actually rose. The total involuntary underemployment remains well above pre-Great Recession levels. As many analysts are beginning to understand, this constitutes a continued waste of human capital (see early posting).
Involuntary underemployed Aug 2014.png

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s