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Monday, December 09, 2019

U.S. Job Growth Tepid, Jobless Rate Slips To 7.3 Percent

@AFP

WASHINGTON, District of Columbia (AFP) – U.S. job growth was tepid in August but the unemployment rate ticked down to 7.3 percent, the Labor Department reported Friday.

The United States added 169,000 jobs last month and the prior two months’ job numbers were revised sharply lower.

The August jobs growth number came in well below the average analyst estimate of 177,000.

The slight decline in the jobless rate was unexpected, and came as the number of people participating in the labor force fell.

The jobless rate had been expected to come in at 7.4 percent, unchanged from July.

The August jobs report revealed the economy gained 74,000 fewer jobs in the prior two months than previously estimated.

The July number was slashed to 104,000 from 162,000, and the June total was lowered to 172,000 from 188,000.

Photo Credit: AFP/Chip Somodevilla

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Jeff Danziger lives in New York City. He is represented by CWS Syndicate and the Washington Post Writers Group. He is the recipient of the Herblock Prize and the Thomas Nast (Landau) Prize. He served in the US Army in Vietnam and was awarded the Bronze Star and the Air Medal. He has published eleven books of cartoons, a novel and a memoir. Visit him at DanzigerCartoons.

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