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A few more comments: Decennial Census layoffs came in close to my estimate (-114,000 actual vs. estimate of -116,000) The seasonally adjusted (SA) teen participation rate increased from 34.6% to 35.2%. This was because so few teens looked for jobs this summer. This was a factor in pushing up the overall participation rate even with a weak job market. The before rounding participation rate (SA) rose from 64.55% in July to 64.73% in August, and the before rounding unemployment rate rose from 9.51% in July to 9.643% in August. It won't take much to push the headline unemployment rate to 9.7%. Click on graph for larger image. The BLS diffusion index for total private employment declined to 53.0 from 56.7 in July. For manufacturing, the diffusion index declined to 47.0 from 53.0 in July, and
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Employment Diffusion Indices
A few more comments: Decennial Census layoffs came in close to my estimate (-114,000 actual vs. estimate of -116,000) The seasonally adjusted (SA) teen participation rate increased from 34.6% to 35.2%. This was because so few teens looked for jobs this summer. This was a factor in pushing up the overall participation rate even with a weak job market. The before rounding participation rate (SA) rose from 64.55% in July to 64.73% in August, and the before rounding unemployment rate rose from 9.51% in July to 9.643% in August. It won't take much to push the headline unemployment rate to 9.7%. Click on graph for larger image. The BLS diffusion index for total private employment declined to 53.0 from 56.7 in July. For manufacturing, the diffusion index declined to 47.0 from 53.0 in July, and
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