Jobs Report: 204,000 Jobs Added in August

[InTheLight]

ADP Payroll has delivered its employment report for August 2014. 204,000 jobs were added in August the 5th month in a row with 200,000+ jobs added.

All major industries covered by the ADP report added jobs last month with professional and business services adding the most at 51,000. Trade/transportation/utilities added 28,000 jobs and manufacturing added 23,000. Construction and financial activities industries were somewhat behind other industries adding 15,000 and 5,000 jobs respectively. With 164,000 jobs added service-providing businesses significantly out-hired goods-producing businesses which added 41,000 jobs.

http://www.forbes.com/sites/samanth...sts-slight-slowdown-in-small-business-hiring/

http://money.cnn.com/news/newsfeeds/articles/marketwire/1142131.htm

The Labor Department releases their data tomorrow.

 

[righteousdude2]

ADP Payroll has delivered its employment report for August 2014. 204,000 jobs were added in August the 5th month in a row with 200,000+ jobs added.

All major industries covered by the ADP report added jobs last month with professional and business services adding the most at 51,000. Trade/transportation/utilities added 28,000 jobs and manufacturing added 23,000. Construction and financial activities industries were somewhat behind other industries adding 15,000 and 5,000 jobs respectively. With 164,000 jobs added service-providing businesses significantly out-hired goods-producing businesses which added 41,000 jobs.

http://www.forbes.com/sites/samanth...sts-slight-slowdown-in-small-business-hiring/

The Labor Department releases their data tomorrow.

How many of those jobs are seasonal and part time? If you would give the facts, it would paint a clearer picture of our true jobs gains. :thumbs:

 

[webdog]

How many jobs were lost in August? I know unemployment rate went up in July slightly.

 

[InTheLight]

How many jobs were lost in August? I know unemployment rate went up in July slightly.

Will have to wait until the BLS report tomorrow.

 

[Salty]

Exactaly what is an added job?


Suppose Greg is appointed to a newly created position of Vice-President of pencils.

Marsha takes Greg's old job of Director of pencils

Jan takes Marsha's old job as Asst Director of pencils

Peter takes Jan's old job as Inventory management of Pencils

Bobby takes Peters old job as Pencil counter

and Susan is newly hired to take Bobby's old job as pencil box opener.


So how many jobs were created? 1, 2, 3, 4, 5, or 6?

 

[InTheLight]

Exactaly what is an added job?


Suppose Greg is appointed to a newly created position of Vice-President of pencils.

Marsha takes Greg's old job of Director of pencils

Jan takes Marsha's old job as Asst Director of pencils

Peter takes Jan's old job as Inventory management of Pencils

Bobby takes Peters old job as Pencil counter

and Susan is newly hired to take Bobby's old job as pencil box opener.


So how many jobs were created? 1, 2, 3, 4, 5, or 6?

One job was created. Payroll additions is the methodology used by ADP in their jobs reports, and as far as I know they are all full-time jobs. They also have a formula to adjust for seasonal jobs, and months that have 5 payroll periods.

 

[Salty]

One job was created. Payroll additions is the methodology used by ADP in their jobs reports, and as far as I know they are all full-time jobs. They also have a formula to adjust for seasonal jobs, and months that have 5 payroll periods.

Do you have a link that gives all the specifics on that?

 

[InTheLight]

Do you have a link that gives all the specifics on that?

http://www.adpemploymentreport.com/docs/ADP-NER-Methodology-Full-Detail.pdf

 

[InTheLight]

How many jobs were lost in August? I know unemployment rate went up in July slightly.

Found this:

The number of Americans filing new claims for unemployment benefits rose a bit more than expected last week, but remained at levels consistent with tightening labor market conditions.

Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 302,000 for the week ended Aug. 30, the Labor Department said on Thursday.

 

[Revmitchell]

This is no longer an important part of understanding what is a recovering economy. For the sake of Obamacare alone the admin redefined the hourse needed in order to be considered full time. In doing that they reduced the number of hourse needed.

How else has this admin redefined jobs so that they can look good?


Many of the jobs occurung out there right now are merely part time or low paying jobs. It certainly gets them off of unemployment and I am glad they are working but it does very little to add to an economic recovery.

 

[InTheLight]

This is no longer an important part of understanding what is a recovering economy. For the sake of Obamacare alone the admin redefined the hourse needed in order to be considered full time. In doing that they reduced the number of hourse needed.

How else has this admin redefined jobs so that they can look good?

The re-definition of a full time job for ObamaCare is not the same as the definition of a full time job for the ADP or the BLS surveys. There has been no change in those two entities definitions. Nice try, though.

 

[Use of Time]

You know what, it is sickening how people almost root against economic progress because they are so married into partisan gamesmenship that they would rather see the economy collapse then give an ounce of credit to the other side.

 

[InTheLight]

You know what, it is sickening how people almost root against economic progress because they are so married into partisan gamesmenship that they would rather see the economy collapse then give an ounce of credit to the other side.

Yep, you nailed it.

 

[webdog]

You know what, it is sickening how people almost root against economic progress because they are so married into partisan gamesmenship that they would rather see the economy collapse then give an ounce of credit to the other side.

I don't see that at all. I see people keeping things in perspective. Creating 200k jobs while losing 300k jobs is what it is.

 

[carpro]

I don't see that at all. I see people keeping things in perspective. Creating 200k jobs while losing 300k jobs is what it is.

Keeping things in perspective is simply not allowed by leftists. 200K jobs is a joke at this stage of the game.

Obama's agenda has continually crippled the efforts of business to create new jobs. Business keeps bouncing back in spite of his gaffs, but they would leap back if he backed policies that fostered job growth.

 

[Use of Time]

I don't see that at all. I see people keeping things in perspective. Creating 200k jobs while losing 300k jobs is what it is.

I would accept that if that particular perspective was applied consistently on this bulletin board. It is not.

 

[righteousdude2]

Again, you have NO clue!

You know what, it is sickening how people almost root against economic progress because they are so married into partisan gamesmenship that they would rather see the economy collapse then give an ounce of credit to the other side.

I would be the first person giving thanks for a recovery, but as I've said many times, there is way too many people that I know both directly and indirectly, who have run out of unemployment, and now living on welfare. And these are people that are believers, and once held good-paying jobs.

They have lost ALL hope of getting a job, and the truth is, when you spend years on unemployment, they lack money to keep their cars in good shape, so now they can't even get to an interview or a job if one opened!

It is not as rosy as some want it to be. The truth is, where I live in California, the people who have fallen off the unemployment rolls and now living on welfare, is shameful for a nation that once led the way in jobs.

I used to be a job developer for voice rehab, and in those days, our paper had no less than three full pages of ads for help wanted. Today, the paper is lucky to get a half page of ads on a good day!

The jobs are not there, and the ones, there are under 30 hours a week, and pay minimum or a little more! A family cannot live on that! So they suck up their pride and take welfare!

Those job numbers include seasonal, part time, and temporary as well as full time. And they are laughable to the many families I know who have lost their dignity!

 

[carpro]

Payrolls for businesses with 49 or fewer employees increased by 78,000 jobs in August. That’s down
from 89,000 in July. Job growth was also down over the month for medium-sized firms. Employment
among medium-sized companies with 50-499 employees rose by 75,000, down from 88,000 in July. Employment
among medium-sized companies with 50-499 employees rose by 75,000, down from 88,000 in July.
Employment at large companies – those with 500 or more employees – increased by 52,000, up from
35,000 the previous month. Companies with 500-999 employees added 5,000, down from July’s 13,000.

Down from July in every category but one. And that supposed to be something to crow about?

After 18 months of recession and five years of the weakest economic recovery in living memory, the U.S. economy has finally regenerated all the jobs lost since 2007. The total number of nonfarm payrolls jobs, 138,463,000 according to the Department of Labor‘s tally, is the highest in U.S. history.

For many observers of the economy, this is the smallest of victories. The nation has continued to grow in population, so it’s only natural there would be more jobs now than in 2007. At 6.3%, the unemployment rate remains higher than most economists, or workers, would like.

The recession that swept across the nation beginning in December 2007 and officially ending in June 2009 left a long scar that by many measures has yet to heal. In the past, the economy has often bounced back and even caught up to the trend that was in place before the recession began. This time, the economy still remains far below trend.

If we had a president that wasn't an economic illiterate, it would have been far better. This recovery has been long and pathetic.

 

[poncho]

In any event, no matter how you spin it, today's data was bad: because not only did the headline data disappoint, the labor force participation rate dropped once again to 62.8% from 62.9%, matching the lowest since 1978, as a result of the people not in labor force rising once again, and hitting a new all time high record of 92,269,000, up 268,000 from the prior month. In fact, in August the number of people not in the labor force increased by nearly double the number of people who found jobs, which as we reported previously, was only 142K.

http://www.zerohedge.com/news/2014-09-05/labor-participation-rate-drops-back-lowest-1978-people-not-labor-force-rise-record-9

 

[Revmitchell]

What Today’s Job Numbers Mean

Today’s employment report dashed some cold water on hopes the economy has finally begun a robust recovery. For six straight months the payroll survey reported employers creating over 200,000 net jobs. In August net job creation dropped to just 142,000 – well below expectations and only slightly more than necessary to keep pace with population growth.

The household survey also reported anemic job growth. The unemployment rate dropped a tenth of a percentage point (to 6.1 percent) only because more Americans dropped out of the labor force.

The “official” statistics probably understate unemployment rate by between a half and a full percentage point.

None of this proves—yet—that the economy has slowed down. Both the household survey and the payroll survey have significant margins of error. The Bureau of Labor Statistics (BLS) will also revise these payroll survey numbers as more data becomes available. These disappointing numbers could just reflect statistical noise. But a healthy recovery finally arriving seems a bit less likely now.

Moreover, other labor market indicators confirm the economy remains in the doldrums. Average weekly hours remained flat at 34.5 hours a week – the same level as in February 2013. Employers apparently see no need for longer hours or more overtime. Average hourly wages have grown just 2.1 percent over the past year – barely keeping up with inflation. The labor market appears relatively slack.

A new report from Alan Krueger, the former chair of President Obama’s Council of Economic Advisers, adds weight to this concern. He finds fewer Americans answer the BLS household survey than before – with unemployed Americans particularly less likely to respond. Workers who don’t answer the survey don’t get counted at all. Consequently the “official” statistics probably understate the unemployment rate by somewhere between a half and a full percentage point.

Further, labor force participation has fallen to a level (62.8 percent) last seen in the Jimmy Carter administration – a time when far fewer women worked outside the home. Demographic changes, like the aging and retirement of the Baby Boomers, account for less than a quarter of this decrease. The weak economy explains most of the rest.

http://dailysignal.com/2014/09/05/todays-job-numbers-mean/?utm_source=facebook&utm_medium=social