America’s Dismal August Jobs Report – by Stephen Lendman
Headlines obscured its ugliness. The Bureau of Labor Statistics (BLS) reported a dismal 96,000 jobs created. Whisper numbers suggested around 200,000. June and July totals were revised down 41,000. They’re usually momentum drivers for future data releases.
U-3 unemployment dropped from 8.3% to 8.1%. It’s because 368,000 workers hadn’t found jobs after over a year of looking. BLS calls them non-persons. They don’t exist.
At the same time, it added a fictitious 87,000 jobs based on so-called birth/death calculations. They turn reality on its head.
The labor force participation rate fell from 63.7%
Article source: http://mostlywater.org/americas_dismal_august_jobs_report