8 Sep 2012

US job creation figures weak

8:37 am on 8 September 2012

The United States economy created 96,000 jobs in August, a lower number than expected.

Analysts had expected non-farm payrolls to grow by 125,000 last month, the BBC reports

Adding to weak job creation figures for August, revisions to June and July data meant that 41,000 fewer jobs were created than previously reported.

The unemployment rate fell to 8.1%, compared with 8.3% in July, but only because more people gave up looking for work.

Employment increased in food services and drinking places, professional and technical services and healthcare during August, the US Bureau of Labor said.

Employment growth has averaged 139,000 a month in 2012, compared with an average monthly gain of 153,000 in 2011.

The percentage of Americans who either have a job or who are looking for one fell to 63.5%, the lowest participation rate since 1981.

Meanwhile, a survey released on Tuesday indicated that growth in the US manufacturing sector remained weak.

Figures released last week showed that the US economy grew at an annualised pace of 1.7% in the second quarter of the year.