The latest jobs report is out, and the numbers aren’t terribly encouraging.
As usual, there is a lot of data to sort through. Here are the numbers that matter most for investors:
- 96,000. The number of nonfarm jobs added in August, according to the Labor Department. That’s well below this year’s average of 139,000 per month.
- 8.1%. The new unemployment rate, down a couple ticks from the previous 8.3% level. That number comes with a huge asterisk, however. An estimated 368,000 people gave up looking for work, reducing participation in the labor force to a 30-year low.
- 14.7%. The broader unemployment rate, which includes those working in part-time jobs. The number was down slightly from July’s 15% rate.
- 43. The number of consecutive months the unemployment rate has now remained above 8%.
- 30. The number of consecutive months that the private sector has added jobs.
- $23.52. The average hourly wage, down a penny from July.
- 34,000. The number of jobs added in the hotel, restaurant and leisure industries – highest of any U.S. sector last month.
- 41,000. The number of jobs subtracted from the June and July hiring estimates.
Add all the jobs report numbers up, and it equates to an uncertain marketplace. No wonder stocks did next to nothing today.