We got the August jobs report today. It came in slightly below estimates for new non-farm jobs. August, however, is the month that gets the biggest revisions each year, so we really don't know where it will turn out in the end. There was nothing in the report that was a striking shift from the previous trends.
One thing is clear, however. There still is a need to speed up the economy. As of today, those who are unemployed or underemployed (mostly people working only part time who want full time work) still constitute 8.6% of the workforce. On top of that there are many others who just dropped out of the labor force and who, therefore, don't get counted. An unemployment rate of 4.4% sounds great, but we still have the terrible legacy of the Obama economy that left so many discouraged and underemployed people. America needs more and better paying jobs.
One thing is clear, however. There still is a need to speed up the economy. As of today, those who are unemployed or underemployed (mostly people working only part time who want full time work) still constitute 8.6% of the workforce. On top of that there are many others who just dropped out of the labor force and who, therefore, don't get counted. An unemployment rate of 4.4% sounds great, but we still have the terrible legacy of the Obama economy that left so many discouraged and underemployed people. America needs more and better paying jobs.
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