August Jobs Report

#Jobs — increase meets expectation, while UE rate falls more than expected

Gain of +1,371,000 non-farm payroll jobs, vs. expected 1.32M gain
Unemployment at 8.4%, down by 1.8%, vs. expected 9.8%
U6 unemployment at 14.3%, down by 2.3%
Labor force participation 61.7%, up by 0.3
Average hourly earnings up 0.4%, up by 0.2

July jobs revised down by -29K to +1.734M
June jobs revised down by -10K to +4.781M