That's a 33% decline in one month in the pace at which jobs have been added monthly in the last year.
From the report, here:
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. ... Total nonfarm payroll employment increased by 142,000 in August, compared with an average monthly gain of 212,000 over the prior 12 months. In August, job growth occurred in professional and business services and in health care. ... The change in total nonfarm payroll employment for June was revised from +298,000 to +267,000, and the change for July was revised from +209,000 to +212,000. With these revisions, employment gains in June and July combined were 28,000 less than previously reported.
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Meanwhile, hours have been flat for six months at 34.5 and hourly wages climbed at a 2.1% annual pace, meaning there is little sign of an uptick in inflation in labor costs.
Those who work usually part-time declined slightly below last year's summer nadir, another sign ObamaCare is NOT part-timing workers . . . yet.
Those who work usually full-time rose to their summer peak to just over 120 million, but this measure is still 3.1 million off the summer 2007 peak, SEVEN years ago.
The labor participation rate came in at 63.0%, not seasonally adjusted, a level we thought we had said goodbye to permanently in the mid-1980s. The level was first achieved in 1976 in the post-war.
The pace of job creation under Obama remains well below the rates under Reagan and Clinton.
