Unemployment Ticks Up To 8.2% On Weak Job Creation
The U.S. economy continues to sputter along with the Bureau of Labor Statistics reporting the weakest job creation in a year. Nonfarm payroll employment increased by just 69,000, and the unemployment rate increased to 8.2 percent.
Hiring occurred in health care, transportation and warehousing, and wholesale trade but construction was weak. Job creation remains anemic overall.
US Unemployment Rate data by YCharts
The labor force participation remains below 64% with the number of americans not in the workforce at historic highs. Noted in the ugly chart below.
US Labor Force Participation Rate data by YCharts
All of this turned the S&P 500 (SPY) and Nasdaq (QQQ) lower pre-market.
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