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Hey Bartender! August Jobs Report Shows Only 151K Jobs Added, Hourly Earnings Fall To +2.4% YoY

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

Yet another Hey Bartender! jobs report.

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The August jobs report likely sealed the fate of a Fed rate hike … until after the Presidential election in November.

Only 151K jobs were added in August, a real comedown after a revised 275K report in July.

aaug16payrolls

Average hourly earnings YoY fell from a revised 2.7% rate in July to 2.4% in August. Average hourly earnings YoY still remain LOWER than anytime during The Great Recession. Well done, Washington DC!

avghaug16

Certainly, someone on CNBC or Fox Business will utter that the USA is near full employment, With a U-6 underemployment rate at 9.7% and the number of people NOT in the labor force at 94.4 MILLION?

nilfaug16

Food services and drinking places were the employment addition leaders at +34k.

zengenslker5

The bar from “There’s Something About Mary” looks suspiciously like Brions’s Grille on George Mason University campus in Fairfax, Virginia.

At least Brion’s Grille doesn’t serve Fried Chicken Bloody Marys.

sobelmans-chicken-fried-bloody-mary

 

 

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