Unemployment Numbers For The Month Of August were Awful [ANALYSIS]

August’s Poor Employment Report The Bureau of Labor Statistics (BLS) released its initial estimate of total nonfarm employment today, coming in up 96 K from the prior month.  The 96 K gain in employment coincided with a drop in the unemployment rate from 8.3% to 8.1%, as 400 K fewer individuals sought work.  The government’s accounting was strikingly different than ADP’s August report, which gave an initial estimate of 201 K jobs gained, with 185 K in the service sector and 16 K in the good producing sector. Household and Payroll Employment When gauging employment conditions, the BLS uses two…