August Jobs Report: Objectively Bad, But Not Crashworthy

Duncan Black:

Eschaton: Please Don't Tell Them To Do The Math: twitter machine tells me Obama is going to speak about jobs at 11am. They already have the numbers...

Now that is a bad sign...

UPDATE: An objectively bad number--job growth too slow to even begin to raise the employment-to-population ratio--but not bad enough to guarantee a bad day at the dog track. The headline item I note is that the employment-to-population ratio is now at 58.1%, down from 58.5% in March and below its previous 58.2% trough of December 2009. July 1983--a time when American feminism was only halfway born--was the last time we saw an employment-to-population ratio this low:

U.S. economy gained 117,000 jobs in July - MarketWatch: The U.S. economy added 117,000 jobs in July and an even larger 154,000 in the private sector while the unemployment rate fell to 9.1% from 9.2%, partly because 193,000 people dropped out of the labor force, according to the latest government data. Job gains in May and June were also revised up by a combined 56,000…

And the BLS website appears to have crashed…