"Job growth in August was respectable though not spectacular," says Harry Holzer, a Georgetown University professor, and former chief economist at the U.S. Labor Department.

Total nonfarm payroll employment increased by 151,000 in August, and the unemployment rate remained at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in several service-providing industries.

A few observations from the Wall Street Journal:

·      The Pace of Hiring – in the past two months, US employers have added 255,000 jobs (July 2016) and 292,000 jobs (June 2016). The 155,000 jobs added in August is down significantly from those preceding months.

·      Jobless Rates – Keep an eye on the discouraged workers and part time working who want to work full time to see if there is a trend upward. Currently these categories are little changed from August a year ago.

·      Participation in the Workforce – According to the WSJ, the percentage of Americans participating in the workforce is just above a 40 year low. This low participation rate suggests that there may be more slack in the jobs market than the other numbers suggest.

Although the numbers are still relatively encouraging according to many analysts, employers should continue to be vigilant in managing their unemployment insurance, claims, costs, and to be prepared for potential downturns in the economy which would trigger a rise in unemployment costs. Contact Unemployment Tracker/UI Steward for details on how we can help at UnemploymentTracker.com.