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Fri Sep 7, 2012, 08:33 AM

Jobs Rise 96,000 in August, Below Expectations; Unemployment Rate Falls to 8.1 [View all]

Source: Reuters

Jobs growth brakes in August, seen forcing Fed's hand

By Lucia Mutikani

Fri Sep 7, 2012 8:50am EDT

WASHINGTON (Reuters) - Jobs growth slowed more than expected in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week and dealing a blow to President Obama as he seeks reelection in November.

Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday. While the unemployment rate dropped to 8.1 percent from 8.3 percent in July, it was largely due to Americans giving up the search for work.

The report's weak tenor was also underscored by revisions to June and July data to show 41,000 fewer jobs created than previously reported. The labor force participation rate, or the percentage of Americans who either have a job or are looking for one, fell to 63.5 percent -- the lowest since September 1981.

The lackluster report keeps the pressure on Obama ahead of the November vote in which the health of the economy looms large.

Read more: http://www.reuters.com/article/idUSBRE88604Y20120907?irpc=932

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Reply Jobs Rise 96,000 in August, Below Expectations; Unemployment Rate Falls to 8.1 [View all]
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