US Jobless Rate Unchanged at 4.9% in August


US unemployment rate was recorded at 4.9 percent in August 2016, unchanged from the previous two months while missing market expectations of 4.8 percent. The number of unemployed persons was flat at 7.8 million and the labor force participation rate stood at 62.8 percent.

Among the major worker groups, the unemployment rates for adult men (4.5 percent), adult women (4.5 percent), teenagers (15.7 percent), Whites (4.4 percent),  Blacks (8.1 percent), Asians (4.2 percent), and Hispanics (5.6 percent) showed  little change in August. 

The number of long-term unemployed (those jobless for 27 weeks or more) was essentially unchanged at 2.0 million in August. These individuals accounted for 26.1 percent of the unemployed. 

Both the labor force participation rate, at 62.8 percent, and the employment-population ratio, at 59.7 percent, were unchanged in August. The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed at 6.1 million in August. These individuals, who would have preferred full-time employment, were working part time because their hours had been cut back or because they were unable to find a full-time job. 

In August, 1.7 million persons were marginally attached to the labor force, about the same as a year earlier. (The data are not seasonally adjusted.) These individuals were not in the labor force, wanted and were available for work, and had looked for a job sometime in the prior 12 months. They were not counted as unemployed because they had not searched for work in the 4 weeks preceding the survey. Among the marginally attached, there were 576,000 discouraged workers in August, little different from a year earlier. (The data are not seasonally adjusted.) Discouraged workers are persons not currently looking for work because they believe no jobs are available for them. The remaining 1.1 million persons marginally attached to the labor force in August had not searched for work for reasons such as school attendance or family responsibilities. 

US Jobless Rate Unchanged at 4.9% in August


BLS | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/2/2016 1:40:44 PM