US economy adds 96K jobs, unemployment rate falls to 8.1 percent
 

U.S. employers added 96,000 jobs last month, a weak figure that could slow any momentum President Barack Obama hoped to gain from his speech to the Democratic National Convention.
The unemployment rate fell to 8.1 percent from 8.3 percent in July, the Labor Department said Friday. But that was only because more people gave up looking for work. The government only counts people as unemployed if they are actively searching.
The government also said 41,000 fewer jobs were created in July and June than first estimated. The economy has added just 139,000 jobs a month since the beginning of the year, below 2011's average of 153,000.
Dow Jones industrial futures, which had been up before the report, fell soon after it was released.
The report was weak throughout. Hourly pay fell, manufacturers cut the most jobs in two years and the number of people in the work force dropped to its lowest level in 31 years.


Read more: US economy adds 96K jobs, unemployment rate falls to 8.1 percent | Fox News

Re: US economy adds 96K jobs, unemployment rate falls to 8.1 percent
 

And the mainstream media was trying to paint this as good news yesterday.