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Average U.S. August Jobs Report Takes Back Seat to Hurricane Harvey

Friday, October 13th, 2017

Article source: ConstructConnect

August’s Employment Situation report from the Bureau of Labor Statistics (BLS) records a month-to-month increase in U.S. total employment of +156,000.

The +156,000 figure is a little weaker than the seven-month average so far this year of +176,000.

Furthermore, this year’s January-through-August average of +176,000 is -9.2% compared with the +194,000 number for the same time frame last year.

Just the same, +150,000 or more is a benchmark that defines when a jobs report should be greeted with warmth.

The nation’s unemployment rate in August eased back a little to 4.4% from 4.3% in July.

Goods production contributed more towards the total jobs increase in August than is normally the case. Mining, forestry, construction and manufacturing combined for a +70,000 month-to-month jobs gain, or nearly 50% of the +156,000 total.

(more…)




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