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article imageAugust was 30th straight month U.S. economy added jobs

By Marcus Hondro     Sep 7, 2012 in Politics
The U.S. Dept. of Labor released their monthly employment report today and it finds the country added jobs for the 30th straight month and the unemployment rate fell. However, the 96,000 jobs added is off sharply from recent months.
Further, the falling unemployment rate in August, it went from 8.3 to 8.1 percent, is being attributed more to the number of Americans looking for work falling and not gains in the percentage of Americans working. For analysts the continued improving job numbers are on the one hand a positive sign yet the slow growth remains troubling.
Jim O'Sullivan, chief U.S. economist at High Frequency Economics, a Global economy analyst firm, told media the report suggests the U.S. economy is still moving forward. "There's no sign of momentum fading," he said. "That said, it's not much better. What you're left with is an economy that's still growing, but pretty modestly."
Democrats and Republicans: Differing Economic Views
The economy is being cited daily by both major parties during the 2012 U.S. election and they will each use this report to bolster their campaigns. President Barack Obama will point out the 30 straight months of job gains. The Democrats will also point out that there were over 500,000 jobs lost in the month before Obama took office and upwards of 1.9 million job losses in the final four months of 2008, the last four months in which a Republican was in office.
On the other hand, Republican challenger Mitt Romney is pointing out that August marks the 43rd straight month in which unemployment has been above 8 percent.
More about us job report, Obama, Mitt Romney, us department of labor
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