More Workers Are Employed Than Ever Before As People Continue To Reenter The Workforce At The Fastest Rate In 13 Years

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The Facts:

WORKERS KEEP ON WINNING IN THE TRUMP ECONOMY AS MORE PEOPLE ARE EMPLOYED THAN EVER BEFORE

The U.S. labor market added 130,000 jobs in August.

The total number of employed Americans " surged " by 590,000 to a record 157.9 million, according to the Department of Labor's household survey.

MINORITIES CONTINUES TO BENEFIT FROM THE STRONG ECONOMY AS BOTH HISPANIC AND AFRICAN AMERICANS SAW HISTORICALLY LOW UNEMPLOYMENT IN AUGUST

African American unemployment hit a record low of 5.5% in August.

Record lowAfrican American unemployment was driven by a jump in the number of black women on the job, whose unemployment rate fell to a record low 4.4%.

The unemployment rate for Hispanic Americans tied a record low in August.

PRESIDENT TRUMP'S ECONOMY CONTINUES TO PULL DISENFRANCHISED AMERICANS OFF THE SIDELINES AND INTO THE LABOR MARKET

The booming economy is enticing Americans back into the workforce as the labor force participation rate rose to 63.2% , tying its highest level since 2013.

Strong labor force participation was driven by women who are returning to the labor market at the highest rate in more than 17 years.

WAGES CONTINUED TO GROW WELL ABOVE INFLATION IN AUGUST, ANOTHER MONTH OF SOLID GROWTH

Wage growth " remained solid " in August, growing at 3.2% year over year, well above inflation.

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The Labor Market Remained Strong In August As The Number Of Americans Employed "Surged" To A Record 157 Million

The U.S. Labor Market Added 130,000 Jobs In August. "U.S. employers added 130,000 jobs in August, according to a monthly snapshot from the Labor Department." ( NPR , 9/6/19)

Scott Clemons, Chief Investment Strategist At Brown Brothers Harriman Praised Todays "Good" Jobs Report. "'If we weren't already talking about recession risk and already looking for signs of a slowdown, we wouldn't start today because of this jobs report,' said Scott Clemons, chief investment strategist at Brown Brothers Harriman. 'On balance, I come down on the optimistic side. I think it's a pretty good jobs report,' Clemons added." ( CNBC , 9/6/19)

The Number Of Employed Americans "Surged" By 590,000 To A Record 157.9 Million, According To The Department Of Labor's Household Survey. "The total number of Americans considered employed surged by 590,000 to a record 157.9 million, according to the household survey, which is conducted separately from the headline establishment count." ( CNBC , 9/6/19)

Minorities Continue To Benefit From The Strong Jobs Market As Both Hispanic And African Americans Saw Historically Low Unemployment In August

African American Unemployment Hit A Record Low Of 5.5% In August. "The African-American unemployment rate fell to an all-time low of 5.5 percent in August, and the labor force participation rate edged up to 63.2 percent, one of the best rates of recent years. ( The Washington Post , 9/6/19)

The Unemployment Rate For Hispanic Americans Tied A Record Low In August . "Unemployment among workers who identify themselves as Hispanic or Latino also fell in August to 4.2%, which matched a record low set earlier this year." ( CNN , 9/6/19)

CNBC: African American Unemployment Is At The "Lowest Level On Record." YLAN MUI: "The unemployment rate among blacks, that dropped to 5.5% and is now at the lowest level on record, guys back to you." (CNBC's Squawk Box, 9/6/19)

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The Record Low Black Unemployment Was Driven By A Jump In The Number Of Black Women On The Job. "Black unemployment fell to a record low in August, helped by a jump in the number of black women on the job. The unemployment rate for black workers fell to 5.5% from 6%, according to the Labor Department data. The previous record low of 5.9% was set in May 2018." ( CNN , 9/6/19)

The Unemployment Rate For Black Women Fell To A Record 4.4% In August. "The unemployment rate for black women fell to a record 4.4% from 5.2% in July. The unemployment rate for black men crept up to 5.9% from 5.8%. But the previous month's rate was a record, so the rate is still near its historic low." ( CNN , 9/6/19)

The Gap Between White Unemployment And African American Unemployment Is The Smallest On Record. "Minority unemployment has been tracked by the Labor Department since the early 1970's. Both black and Hispanic or Latino unemployment numbers have traditionally been higher than white unemployment, and it remains so today. White unemployment was 3.4% in August, up from 3.3% previously. But this is the smallest gap on record between the respective unemployment rates for blacks and whites." ( CNN , 9/6/19)

PRESIDENT TRUMP'S ECONOMY CONTINUES TO PULL DISENFRANCHISED AMERICANS OFF THE SIDELINES AND INTO THE LABOR MARKET

The Strength Of The Labor Market Continued To Draw Workers Into The Labor Force In August As The Labor Force Participation Rate Tied Its Highest Level Since 2013

President Trump's Economy Is Enticing Americans Back Into The Workforce As The Labor Force Participation Rate Rose To 63.2%. "Despite the middling headline number, there were positive signs elsewhere in the report. The labor force participation rate rose to 63.2 percent, from 63 percent, suggesting that workers who had been on the sidelines are gradually being lured back into the labor market. Average hourly earnings increased by 0.4 percent, which is more than analysts had expected. And the length of the average workweek increased after falling in July." ( The New York Times , 9/6/19)

The Labor Force Participation Rate Tied Its Highest Level Since August 2013. "Labor force participation also increased, rising to 63.2% and tying its highest level since August 2013. The total number of Americans considered employed surged by 590,000 to a record 157.9 million, according to the household survey, which is conducted separately from the headline establishment count." ( CNBC , 9/6/19)

Women Are Reentering The Workforce, Their Labor Force Participation Rate Reached Its Highest Level In More Than 17 Years. The proportion of prime-age women in the U.S. workforce jumped in August to its highest level in more than 17 years, reversing a surprising decline since the start of the year. Labor force participation for women 25 to 54 years old advanced to 76.3%, up a full percentage point from July and the highest since February 2002, the Labor Department's employment report showed Friday. Participation had been declining since reaching 76% in January despite the lowest overall unemployment rate in almost half a century." ( Bloomberg , 9/6/19)

CNN's Christine Romans: Today's Increase In The Labor Force Participation Rate In Jobs Report Is An "Important Sign Of Success." CHRISTINE ROMANS: "Take a look at the jobless rate, 3.7% this remains near a historic generational low. About - more than 500,000 people entered it labor market. So these months and months and months of decent job numbers are encouraging people to come back in. So that is an important sign of success in the labor market right now. Business and information services big job gains there again, health care, these have been driving parts of the economy really. health care and business information services." (CNN's "New Day," 9/6/19)

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President Obama's Former CEA Chair Jason Furman Applauded Today's Report Noting The Continued Strength Of The Labor Force Participation Rate . FURMAN: "Let's average this over three months 156,000 jobs a month that's more than we need to keep the unemployment rate steady to keep the labor market improving. the five previous months also averaged about 150,000 that's the pace we are on where i would look to judge the job market is number one wages, that was very good news on the wage front, 0.4 for the month. 3.2% year over year. and another statistic here is the labor force participation rate, that was up .2 to 63.2 if you look over the last year, labor force participation is up half a point that's half a point even as people are getting older, people are retiring, and that's because we are continuing to create jobs above the replacement level." (CNBC's "Squawk Box," 9/6/19)

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Wages Continued To Grow Steadily In August, Increasing 3.2% Year Over Year, Well Above Expectations

Average Hourly Wages Increased By 3.2%, Helping To Fuel Strong Consumer Spending. "Average hourly wages rose by 11 cents in August, to $28.11, for an average annual increase of 3.2%. Wage gains and low unemployment helped to fuel strong consumer spending during the spring and summer. 'Household consumption right now is propping up the U.S. economy,' said Joe Brusuelas, chief economist for the audit and consulting firm RSM. 'We'll see if the uncertainty tax that's been placed on the economy by trade policy begins to adversely influence consumer attitudes.'" ( NPR , 9/6/19)

Wage Growth "Remained Solid" In August. "Wage growth remained solid, with average hourly earnings increasing by 0.4% for the month and 3.2% over the year; both numbers were one-tenth of a percentage point better than expected." ( CNBC , 9/6/19)

Wages Continued To Grow "Well Above Inflation" In August, Coming In Above Expectations At 3.2%. "For now, Americans are spending because "we're hiring!" signs still appear plentiful in many towns and pay is rising at many companies. Wages grew at an annual pace of 3.2 percent in August, well above inflation and a slightly better-than-expected pace. The number of hours employees are working also rose, a sign of strength that companies are asking workers to stay later." ( The Washington Post , 9/6/19)

Fox Business: Today's Jobs Report Shows High Wage Growth, Record Low Black Unemployment. EDWARD LAWRENCE: "Average hourly wages up .4% month over month, for the last 12 months it's up 3.2%. The labor force participation rate edged up it's 63.2%. Average hourly work week also up .1 hour to 34.4 hours. Non-supervisory wages rose 11 cents. The white unemployment rate 3.4%. Black unemployment rate at a historic low since they've been keeping records in 1972, 5.5%. Hispanic unemployment rate 4.2%. Asian unemployment rate 2.8%." (Fox News' "Mornings With Maria," 9/6/19)

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Economy

Jobs, Wages and Unemployment

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