Happy Friday one and all! At the end of a laborious week (kind of ironic since after all, it was Labor Day on Monday), the new numbers have been released.
According to the latest job report, American employers added 96,000 jobs last month which could be viewed as a weak stat. That said, unemployment dipped to 8.1 percent; in July the percentage was 8.3. However, it could be interpreted the number dropped because more people stalled their job searches.
John Silvia, chief economist at Wells Fargo, told The New York Post, “This weak jobs report is going to feed into (the Fed’s) argument that the economy is growing at a sub-par pace.”