In August, More People Left the Labor Force than There Were Jobs Created

In August, 4 times more people gave up looking for work than there were jobs created. In other words, 96,000 jobs were created, but 360,000 people were so discouraged by their job prospects that they gave up looking for work and now the government doesn’t even count them as unemployed!

See this Labor Department press release: http://www.bls.gov/news.release/empsit.nr0.htm Additionally, you can see the raw numbers and create your own graphs by accessing the data at the Labor Department here: http://data.bls.gov/cgi-bin/surveymost?ln
From the BLS, we see that the civilian labor force level dropped by 368,000 in August.
Yet the BLS also says that only 96,000 jobs were created in August.
Total nonfarm payroll employment rose by 96,000 in August, and the unemployment
rate edged down to 8.1 percent, the U.S. Bureau of Labor Statistics reported today.
Employment increased in food services and drinking places, in professional and
technical services, and in health care.
So here’s the challenge. If you don’t believe me, certainly you will believe the hard, cold numbers from the Labor Department’s Bureau of Labor Statistics? Right?

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