The Bureau of Labor Statistics headline for the Aug. 2013 Employment Situation Summary is that there were 169,000 new jobs in August. That data, released this morning, contains downward revisions for the job gains in both June and July. There were 74,000 fewer jobs added for those two months than the BLS originally reported.
The August unemployment rate was 7.3 percent. The U-6 alternative rate, which accounts for more workers, was 13.7 percent. In August, 11.3 million Americans were out of work which was a decrease of 200,000 from Jul. 2013.
The number of Americans not in the labor force increased for the third month in a row, to just under 90 million. While the number of discouraged workers fell in August, to 866,000, it remained well above this year's May low of 780,000. The labor force participation rate fell to 63.4 percent.
In August, 4,290,000 Americans were long-term unemployed. That reversed a downward trend that had taken place through much of 2013 and amounted to 37.9 percent of all those without jobs. The average number of weeks of unemployment climbed for the second month in a row, to 37 weeks. Half of all those unemployed in August had been unemployed for over 16.4 weeks.
The number of Americans with jobs in August fell from July to 144.2 million. The percentage of multiple job holders remained level with June and July at 4.9 percent while the actual number increased by 29,000 from the month prior. Part-time workers, at 28 million, fell while those with full-time employment rose to 116.2 million.