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A little good and a lot of bad news from the August jobs report chief national correspondent Jim Angle looks at the numbers.
And what they mean tonight.
-- jobless report today showed the unemployment rate had dropped by 110 of a point to seven point 3%.
But aside from that most of the news was discouraging.
The headline numbers were encouraging but when you look underneath the surface you find very disturbing signs -- half a million Americans dropped at a labor force.
That's -- only reason that unemployment dropped.
First only those looking for worker counted in the unemployment rate -- the number of people actually participating in the job market is the lowest in decades.
Only 63 point 2% of adult Americans either have a job or looking for a job.
That's the lowest rate since August 197 835 years ago.
Nevertheless White House officials tried to put the best face on it.
Is another solid and steady month.
Job growth if you look of the last twelve months.
The economy has added 2.2.
The job gains in both June and July were revised downward by 74000.
So the job market -- lost ground since then.
The decline in labor force suspicions -- very bad sign for overall optimism out there in the population.
But officials argue that over the long term the economy is steadily improving.
This report shows a whole range of data that.
There -- making steady solid progress the unemployment rate came down in August.
Came down over the past year and it came down because we're creating jobs.
There's another troubling -- the number of people who've been out of work six months or longer he is now four point three million.
Which is about 38% of the total unemployed a very high number.
The Federal Reserve has been inching toward less stimulus and indicated it would put less money -- the economy once unemployment got -- six point 5%.
Folds -- says this month's report did not move in that direction.
Job growth fell workers got discouraged and quit that's not a signal to policy -- says things are fine you can ease off now.
Analysts say of the current rate of job creation it would take us nearly five more years to get back to 6% unemployment.
A level last seen him in July of 2000 day.
-- our Jim thank you.
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