Financial Review

Decent August Jobs Report


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Jobs report Friday. The economy added 151,000 job. The unemployment rate holds at 4.9%. Financial Review by Sinclair Noe for 09-02-2016 DOW + 72 = 18,491 SPX + 9 = 2179 NAS + 22 = 5249 10 Y + .03 = 1.60% OIL + 1.34 = 45.09 GOLD + 11.20 = 1325.80   The economy added 151,000 jobs last month. The unemployment rate was unchanged at 4.9%. Hiring was expected to taper off after strong gains in July and June in which more than a half-million new jobs were created. The results missed estimates of 180,000 new jobs. Revisions subtracted a net 1,000 jobs from overall payrolls in the previous two months. The government said 275,000 new jobs were created in July instead of 255,000. But June’s gain was cut to 271,000 from 292,000.   The government’s underemployment rate, or U-6, held at 9.7 percent, as the number of people working part-time for economic reasons rose slightly. Some 6.05 million American employees were in part-time jobs but wanted full-time work, up from 5.94 million in the prior month. The Labor Force Participation Rate was unchanged in August at 62.8%. This is the percentage of the working age population in the labor force.   Average hourly earnings rose 0.1 percent from a month earlier to $25.73, following a 0.3 percent increase in the prior month. The year-over-year increase was 2.4 percent, compared with 2.7 percent in the 12 months through July. The average work week for all workers decreased by 6 minutes ...
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Financial ReviewBy Sinclair Noe