September 2, 2016

Chart of the Day: Net New Jobs in August

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The American economy added 151,000 new jobs last month, 90,000 of which were needed to keep up with population growth. This means that net job growth clocked in at a modest 61,000 jobs. Both the number of workers and the number of unemployed increased, and the headline unemployment rate stayed steady at 4.9 percent. Labor force participation was unchanged. Overall, this was a weak but not unusual jobs report.

Hourly earnings of production and nonsupervisory employees were up at an annual rate of about 2.3 percent compared to last month. That’s nothing to write home about, but given our very low inflation rate at the moment, it’s not bad.

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With only days left until December 31, we've raised about half of our $400,000 goal—but we need a huge surge in reader support to close the remaining gap. Whether you've given before or this is your first time, your contribution right now matters.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do. That’s why we need you right now. Please chip in to help close the gap.

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