Today's Jobs Report 'Pretty Meh'
Unemployment rate ticks down to 7.3%, 169K new jobs added
By Evann Gastaldo, Newser Staff
Posted Sep 6, 2013 7:45 AM CDT
In this Aug. 14, 2013, file photo, people check out opportunities during a job fair in Miami Lakes, Fla.   (AP Photo/Alan Diaz, File)

(Newser) – The unemployment rate fell to 7.3% in August, and 169,000 jobs were added, today's jobs report reveals. The rate had been expected to hold steady at 7.4%, but 175,000 new jobs were expected. On the decidedly bad-news front, the number of new jobs added in July was revised downward from 162,000, the AP reports. The new number: 104,000, the lowest number in more than a year. June was also revised downward for a total downward revision of 74,000 jobs.

The Wall Street Journal says this is "arguably one of the most important jobs reports of the year," since it comes just two weeks prior to the Fed's decision on whether to slow its bond purchases. "Pretty 'meh' figures," writes Steven Russolillo. "It's not a guarantee the Fed will taper in a few weeks." Adds Michael J. Casey, "The drop to 7.3% jobless rate is important, but the participation rate is horrible. This is not a strong labor market."

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Showing 3 of 35 comments
cornelison
Sep 6, 2013 10:56 PM CDT
There's a humanitarian crisis going on in and outside of Syria. Wouldn't it make more sense for Obama to send help for the refugees who fled to the surrounding countries? Instead of picking on Obama every day why isn't anyone criticizing the UN? They had a "line in the sand" with respect to chemical weapons. What happened? Corruption? The United Nations has been a huge disappointment since it was created. Here's one thing that Americans should do now - move the UN to another country. New York has had to put up with delegates and staff who think that they are above the law.
Lefty_Libby
Sep 6, 2013 5:28 PM CDT
Yeah, but this was great for my stocks today, and I really need the 'pump and dump' before Congress starts their crazy routine throughout the fall months.
ddhartma
Sep 6, 2013 4:23 PM CDT
From the looks of these comments, it appears that many folks are finally willing to take a closer look at the man behind the curtain. It has been over four and a half years since Bush left office and all we have gained is an increase in people no longer looking for jobs, and a slight increase in part-time jobs. I hope we see real change in the next elections. It's time to dump the two party system.