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Friday, September 5, 2014

August 2014 Unemployment Rate, Jobs

August 2014 Jobs Numbers and Unemployment Rate were released earlier this morning, Friday, September 5, 2014.

  • Jobs were added, but the number of new jobs was below average compared to the last year.  August, however, is often a transitional month, with summer jobs over and fall jobs, particularly in education, not yet started.  The BLS reports that 142,000 payroll jobs were added in August.  This was lower than the 200,000+ new jobs estimated. 
  • The unemployment rate decreased slightly to 6.1% as the number of unemployed dropped by 80,000. The drop in the number of unemployed occurred mostly in the youngest employment age groups, among people aged 16 to 24.  This is typical for August as this group of people exits the labor force as they prepare to return to school.  The number of people employed increased by 16,000with an increase of 252,000 among the prime 25 to 54 year old work force.  
  • Full-time workers increased by 127,000 in August, while part-time workers decreased 327,000.  Over the past year, the number of full-time workers has increased by 2.3 million and the number of part-time workers has decreased by 145,000. 
  • Since the "trough" of the recession in late 2009/early 2010 in seasonally adjusted numbers:
    • 9.4 million MORE jobs in total
    • 10.0 million MORE private sector jobs
    • 8.4 million MORE people working* 
    Since Bush left office & Obama took office (January 2009) in seasonally adjusted numbers:
    • 5.1 million MORE jobs in total
    • 5.8 million MORE private sector jobs
    • 4.2 million MORE people working*

Details and analysis will be added throughout the day and over the weekend.  Please check back for updates!

August 2014 reports to be published: (Notation on the links will be changed to "August" or "Updated for August" when the updated reports become available.) 



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