August Job Numbers

The August jobs numbers show a gain in U.S. employment of 96,000 new jobs. That number isn’t high enough, to be sure, but it might not be as anemic as many pundits would have us believe. The number alone doesn’t tell the whole story. 96,000 new jobs is, historically, actually a strong month for job growth when compared to August numbers of other recent years.

August is usually an up month. Last year the gain was 85,000 in August. In 2010, however, it was just 71,000. The 10 year average gain for August for 2002 to 2011 is only 78,000.

Other recent August numbers:
August 2003: – 45,000

August 2004: +122,000

August 2005: +193,000

August 2006: +183,000

August 2007: – 18,000

August 2008: – 274,000

August 2009: – 231,000

August 2010: – 51,000 (worsened by Census layoffs)

August 2011: + 85,000

August 2012: + 96,000

Is it good enough? No, but it is better than most “experts” and analysts will lead you to believe, however.

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