Employment Increased by 1.5 Million in August
Latino unemployment is lower than Asian unemployment for the first time since the BLS began tracking Asian unemployment separately.
The U.S. Bureau of Labor Statistics (BLS) released its employment / unemployment report for August on September 4th.
- Unadjusted U-3 was Down from 10.5% to 8.5%!
- Adjusted U-3 was Down from 10.2% to 8.4%!
- Unadjusted U-6 was Down from 16.8% to 14.3%!
- Labor Force Participation rose from 61.4% to 61.7%.
- Unadjusted Employment up from 139.063 to 140.598 million.
According to the Commissioner of the U.S. Bureau of Labor Statistics:
“Nonfarm payroll employment increased by 1.4 million in August, and the unemployment rate declined by 1.8 percentage points to 8.4 percent. These improvements reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it.
In August, employment rose in several major industry sectors. A gain in government largely reflected the hiring of temporary workers for the 2020 Census. Notable job gains also occurred in retail trade, in professional and business services, in leisure and hospitality, and in education and health services.”
Of course, he is talking about “Seasonally Adjusted Jobs” from the “Current Population Survey (CPS)” rather than looking at the results reported by actual companies in their “Current Employment Statistics survey (CES)”
Looking at the CES report we see…
Originally the BLS reported 139.100 million jobs for July, they subtracted 37,000 jobs from that estimate.
So currently they are saying 139.063 million jobs for July and 140.598 million jobs for August which is an increase of 1,535,000 jobs based on their updated estimates.
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