The Bureau of Labor and Statistics released the August 2014 jobs report, and overall, the data was a bit weaker than expected. The economy added 142,000 jobs in August, missing expectations of 230,000. August’s jobs gain was the smallest monthly gain of 2014.
A brighter note is that the employment rate did fall by 0.1% to 6.1%, which was in line with projections.
The number of long-term unemployed (those jobless for 27 or more weeks) dropped by 192,000 to 3 million, contributing to the 12-month decline of 1.3 million.
First-reported August jobs numbers are often revised more than other months to take into account teachers going back to work and retailers boosting their workforce for the upcoming holiday shopping season. Despite taking this measure, experts called the numbers “worrying” since they reflect a downward trend throughout the summer.
Tell us: What do you think of the August jobs report?