The Household Survey on employment, which is the most accurate measure of employment including small businesses and entrepreneurs, continues to be strong in August. Here is the latest report from the Congressional Joint Economic Committee:
“The Bureau of Labor Statistics (BLS) announced today that 144,000 new payroll jobs were created during the month of August. According to the household survey, which is used to calculate the unemployment rate, employment increased by 21,000 and unemployment fell by 174,000. The unemployment rate fell to 5.4 percent. Payroll employment gains for July and June were also revised upward by a total of 59,000. Manufacturing added 22,000 payroll jobs in August. Over the past year, nearly 1.7 million new payroll jobs have been created; over 1.4 million new payroll jobs have been created thus far in 2004.
Highlights:
* 144,000 new payroll jobs were created in August. Since August 2003, nearly 1.7 million new payroll jobs have been created.
* Manufacturing added 22,000 new payroll jobs in August. 97,000 new manufacturing payroll jobs have been created in 2004.
* The unemployment rate fell to 5.4 percent, well below its recent peak of 6.3 percent last June, and below the average unemployment rates of the 1970s, 1980s, and 1990s.
* Payroll employment gains for July and June were revised upwards. July payroll employment gains were revised upward to 73,000 from 32,000, and June gains were revised upward to 96,000 from 78,000.
* Payroll jobs gains over the past year have been broad-based, with 9 out of 10 major private sector industries adding new jobs since August 2003.”
Previous
Next