The Labor Department has released it unemployment statistics for August. It shows that 156,000 jobs were created in August -- below the figures created in the last two months. The number of unemployed workers rose by 151,000 -- driving the unemployment rate up by 0.1% to 4.4%. This marks the fifth month in a row that the unemployment rate has bounced back and forth between 4.3% and 4.4%. It seems the economy just can't get it any lower.
Here are the relevant statistics for August:
SIZE OF THE CIVILIAN WORKFORCE:
160,571,000
OFFICIAL NUMBER OF UNEMPLOYED WORKERS:
7,132,000
OFFICIAL UNEMPLOYMENT RATE:
4.4%
DEMOGRAPHIC BREAKDOWN OF OFFICIAL UNEMPLOYMENT:
Adult men...............4.1%
Adult women...............4.0%
Teenagers (16-19)...............13.6%
Whites...............3.9%
Blacks...............7.7%
Hispanics...............5.2%
Asians...............4.0%
Less than HS diploma...............6.0%
HS graduate...............5.1%
Some college...............3.8%
Bachelor's degree or more...............2.4%
NUMBER OF MARGINALLY-ATTACHED WORKERS UNEMPLOYED (no longer counted in the official count):
1,548,000
MORE REALISTIC NUMBER OF UNEMPLOYED WORKERS (marginally-attached + official):
8,680,000
MORE REALISTIC UNEMPLOYMENT RATE:
5.41%
