12:42 p.m.
Tuesday, 20 March 2018

U.S. Added 96,000 Jobs in August

Calexico, California (UIEM).- The United States economy added 96,000 jobs in August, well below expectations, the U.S. Bureau of Labor Statistics reported today.

The number is likely to remove any final doubts at the Federal Reserve about the need for more monetary stimulus.

However, the jobless rate fell to 8.1 percent, from 8.3 percent in July, an indication that more unemployed workers were discouraged about the propsects of finding new jobs.

Among the major worker groups, the unemployment rates for adult men (7.6 percent), adult women (7.3 percent), teenagers (24.6 percent), whites (7.2 percent), blacks (14.1 percent), and Hispanics (10.2 percent) showed little or no change in August.

The jobless rate for Asians was 5.9 percent (not seasonally adjusted), little changed from a year earlier. In August, the number of long-term unemployed (those jobless for 27 weeks or more)was little changed at 5.0 million. These individuals accounted for 40.0 percent of the unemployed.


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