Labor Force Participation Rate Falls To Lowest Level Since September 1981

HUGE BANK BAILOUTS COMING AGAIN, PER GOLDMAN

Last Month's Jobs number REVISED DOWN 20,000. BY 20,000!
From Jim Pethokoukis: If labor force rate had just stayed same as last month, unemployment rate would be 8.4%

The US generated just 96,000 non-farm payroll jobs, on expectations of 130K additions, and compared to the July number of 163,000, now revised to 143,000K.

Private payrolls rose by a modest 103,000, much lower than the expected number of 142K, and down from July's revised 162K. -15,000 manufacturing jobs were lost, compared to the expected +10K, and sadly just a little bit short of Obama's recent promise to add 1 million manufacturing jobs by 2016.

Finally, while the unemployment rate came lower (surprise, surprise: this is what appears in newspapers) at 8.1%, far lower than expectations of 8.3%, and below last month's 8.3%, the broad total underemployment rate (U-6) continues to be sticky at 14.7%.

Birth Death added 87,000, up from July's 52,000. The reason for the drop in the unemployment rate: labor force participation dropped to 63.5%

HOPEY-CHANGEY, SUCKERZ...
YOU VOTED FOR THIS IN 2008. Did you realize it, then?