News
CNN Money | Young adults drop out of the job market
The drop in the unemployment rate in August isn't particularly good news for the economy -- it's driven mostly by nearly 400,000 people dropping out of the labor force, rather than more people finding jobs.
WSJ | Jobs Data Weigh on Obama, Fed
America's employers added jobs at a tepid pace in August, posing a re-election challenge for President Barack Obama and raising the likelihood the Federal Reserve will step in to spur growth when it meets in the coming week.
CNN Money | Manufacturing jobs boom is for real
The number of job openings for skilled factory workers has increased 38% since 2005, according to numbers from the Conference Board that measure labor demand across industries.
FOX Business | Hewlett-Packard Raises Layoff Target to 29,000
Hewlett-Packard increased its job-cut estimate to 29,000 positions on Monday as the struggling technology behemoth continues to slash costs under CEO Meg Whitman.
Econ Comments & Analysis
WSJ | Those Jobless Numbers Are Even Worse Than They Look
Don't be fooled by the headline unemployment number of 8.1% announced on Friday. The reason the number dropped to 8.1% from 8.3% in July was not because more jobs were created, but because more people quit looking for work.
Investors | Obama's Four Years Of Failure On Jobs Must End
Jobs: A top White House economics spokesman cautions against reading too much into a single month of employment data — and we concur: One month isn't enough. So how about 44 months instead?
WSJ | The Jobs Deficit
Everyone is reporting that President Obama knew about the August jobs report when he took the Charlotte stage Thursday night, so no wonder he tried to soar above America's jobs deficit in his speech. There isn't much good to say about a report that shows job creation well below what is needed even to meet new entrants to the labor market.
Washington Times | Losing hope: 12.8% unemployed
The Democratic National Convention in Charlotte, N.C., ended in a big whimper, much like President Obama’s term in office. In his keynote address on Thursday, the president struggled unsuccessfully to give the public a compelling reason to vote for him. The message of hope that worked in 2008 no longer holds up in light of the economic despair of 2012.
Blogs
AEI | Missing: 13 million private-sector jobs from this recovery
Unfortunately, there is still a long way to go if we look at broad-based measures of the labor market. Although private payrolls are “only” 4.2 million below the pre-crisis peak, they are 10% or 12.6 million below their trend level.
WSJ | Jobs Report: Taking a Step Back to View the Big Picture
Today’s jobs report — due out at 8:30 a.m. — will get plenty of attention, and with good reason: It’s one of the most important measures of the state of the economy.
AEI | The awful, awful August jobs report
This was not the employment report either American workers or the Obama campaign were hoping for. A huge miss. It shows the U.S. labor market remains in a deep depression, generating few jobs and little if no income growth.
WSJ | Five Key Takeaways From Jobs Report
The unemployment rate fell to 8.1% from 8.3%, but only because 368,000 Americans dropped out of the labor force, not because more people found work. Economists are still digesting the report, but five things jump out right away
AEI | A big (and updated) version of the biggest, most important chart in American politics
Here is an embiggened version of the infamous jobs chart prepared by Obama administration economists Jared Bernstein and Christina Romer back in January 2009 (and now updated again by me with data from the August jobs report).
Political Calculations | President Obama's "Cash for Clunkers" Summer Jobs Program for Teens
The vast majority of the teens who were given summer jobs as part of the program have now gone back to school, and because they have done so, are no longer considered to be part the U.S. civilian labor force.
