NEW YORK (September 4th) - The August jobs report printed up 1,371,000 new jobs, slightly below the consensus estimate of 1,400,000 jobs.
Revisions for June (-10,000) and July (-29,000) netted 39,000 fewer jobs.
The seasonally adjusted unemployment rate ticked down 180 bps to 8.4% from 10.2% in July, but is still 4.6 percentage points worse than it was last year. Average monthly, three-month, and six-month jobs creation for June, July and August were as illustrated below.More workers returned to the workforce, as the participation rate went from 61.4% to 61.7% month on month, but