- Employment Change August: -10.8K (vs. expected +10.0K, prior- 10.2K)
- Unemployment Rate August: 5.8% (vs. expected 5.8%, prior 5.7%)
- Full Time Employment Change August: -2.6K (vs. prior -6.7K)
- Part Time Employment Change August: -8.2K (vs. prior -3.5K)
- Participation Rate August: 65.0% (vs. expected 65.2%, prior 65.1%) – lowest since January 2007
These results are dreadful.
Since 1996 employment rose in the month ahead of a federal election, every time, by an average of about +32,000.
This time – nope … fall of 10K
Symptomatic of the economy – domestic demand is weak and ‘transition’ is slow.
Looking for a bright side – this is a volatile data point. Thats the best I got. Maybe the boost in business and consumer confidence, though, auger better results ahead.