clear
Monday May 4th, 2015 2:01AM

US economy adds 96K jobs; jobless rate falls to 8.1 percent

By The Associated Press
WASHINGTON - 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.

Sluggish hiring could nudge the Federal Reserve to announce some new action to boost growth after its meeting next week.

The report on hiring and unemployment is among the most politically consequential of the campaign. The figures arrive just as the presidential race enters its final stretch. Jobs are the core issue, and the report could sway some undecided voters.

There will be two additional employment reports before Election Day Nov. 6. But by then, more Americans will have made up their minds.

In his speech Thursday night, Obama acknowledged incomplete progress in repairing the still-struggling economy and asked voters to remain patient.

"The truth is, it will take more than a few years for us to solve challenges that have built up over the decades," Obama said.

In addition to those who've given up looking for work, many young Americans are avoiding the job market by remaining in school. All told, the proportion of the population that is either working or looking for work fell to 63.5 percent. That's the lowest level in 31 years for the labor force participation rate.

Average hourly wages dipped a penny to $23.52 and are only slightly ahead of inflation in the past year.
The average work week was unchanged in August after being revised downward in July to 34.4 hours. And the number of temporary jobs fell for the first time in five months. Both figures suggest that companies are seeing less demand for their services and need fewer workers.

Many of the jobs were in lower-paying industries such as retail, which added 6,100 jobs, and hotels, restaurants and other leisure industries, which gained 34,000. Higher-paying manufacturing jobs fell by 15,000, the most in two years.

The weak pace of hiring is the latest sign that businesses are reluctant to make big investments or add more workers. Europe's financial crisis has pushed the region's economy to the edge of recession. And a set of tax hikes and spending cuts scheduled to take effect at the beginning of the year have created uncertainty about future growth.
© Copyright 2015 AccessNorthGa.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Doctors: Blood clot located in Clinton's head
Secretary of State Hillary Rodham Clinton developed a blood clot in her head but did not suffer a stroke or neurological damage, her doctors said Monday. They say they are confident that she will make a full recovery.
3:55PM ( 2 years ago )
Illinois Sen. Kirk to return a year after stroke
Nearly a year after a stroke left him barely able to move the left side of his body, U.S. Sen. Mark Kirk is expected to climb the 45 steps to the Senate's front door this week - a walk that's significant not just for Illinois' junior senator, but also for medical researchers and hundreds of thousands of stroke patients.
3:54PM ( 2 years ago )
U.S. News
Ga. ethics legislation could end free tickets
General Assembly approval next year of a proposed ethics reform measure could endanger an important fall tradition for Georgia lawmakers - free football tickets.
6:26PM ( 2 years ago )
Abortion restrictions, tax changes loom in Ga.
Tax breaks for manufacturers and higher unemployment taxes for employers take effect with the new year in Georgia, but it remains to be seen whether the state's newest abortion restrictions will be enforced.
6:23PM ( 2 years ago )
Business News
Couch names administrative team
Ahead of his scheduled swearing in Friday, Hall County Sheriff-elect Gerald Couch named his top administrative team Monday.
6:28PM ( 2 years ago )
Tech beats Southern California in Sun Bowl
Tevin Washington threw a touchdown pass and ran for another score to help Georgia Tech beat Southern California 21-7 on Monday in the Sun Bowl.
5:54PM ( 2 years ago )
Hall Co. officials launch health-based initiative for employees
Hall County officials believe healthy county employees will be of greater service to the county. With that in mind, they have created a health-based fitness initiative to provide free fitness training for county workers.
5:46PM ( 2 years ago )
Local/State News
Ben Carson, famed neurosurgeon, running for president
WASHINGTON (AP) — Ben Carson, retired neurosurgeon turned conservative star, has confirmed that he will seek the Republican presidential nomination in 2016.Carson, who has never run for public office,...
9:45PM ( 4 hours ago )
Police investigating shooting in Gwinnett
Gwinnett County police are investigating a Sunday evening shooting in Lawrenceville
9:31PM ( 4 hours ago )
Jackson County investigating body found at school
The body of a female was found Sunday on the campus of a Jackson County school.
By Rob Moore
9:21PM ( 4 hours ago )
Police have identified a man shot near the Underground
Police have identified a man shot near the Underground Atlanta shopping and entertainment complex in the city's downtown area. Authorities say the suspected gunman ran to Underground Atlanta after firing shots at another man near Peachtree Street and Martin Luther King Jr. Drive. Police later identified the victim as at 24-year-old Khiry Clemons.
2:45PM ( 11 hours ago )
Survey says Suwanee residents happier with their city than most
The results of the National Citizen Survey suggest that residents of Suwanee are happier with their city overall than most others across the country.
9:00AM ( 17 hours ago )