Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
That labor force participation rate again “wins” – the % of Americans now working is at the lowest rate since September 1981 at 63.5% (down 0.2% from July). Amazing. Since those citizens disappeared from the workforce the unemployment rate fell 0.2%. Granted last month the unemployment rate ticked up to 8.3% but barely – it was something like 8.252% rounded up last month. But for political reasons (as most focus on the rate in the mass media) this is a “good number” even as the data in poor.
Private sector +103,000 while government cut 7,000 = +96,000.
Average workweek was flat as was the average hours.
Both June and July figures were revised down. (shocker)
QEinfinite. (Gold jumps on the news, dollar dumps)
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