High Unemployment & Slow Job Growth: Likely News From Today's Report
Expect to hear this morning that employers added 125,000 to 130,000 jobs to their payrolls in August and that the nation's unemployment rate stayed at 8.3 percent, economists tell Reuters and Bloomberg News.
The takeaway from such numbers would be that job growth remains sluggish and unemployment remains high. In other words, more of the same.
Yes, it's time again for the monthly numbers that hit home for most Americans when they think about how the economy is doing. They're also the numbers that get talked about most on the campaign trail and could have a big impact on who gets elected president in November.
Our colleagues over at Planet Money have posted a look at "Jobs In America, In 2 Graphs." As they write:
"Three years into the recovery, the U.S. jobs picture is still bleak. There are 4.8 million fewer jobs today than there were in January 2008, the month when employment peaked. But ... the story becomes more nuanced when you look across different sectors of the economy."
The BLS report is due at 8:30 a.m. ET. We'll update this post after the news is out and follow the analyses and reactions.