Payrolls in U.S. Rose Less Than Forecast; Jobless 7.3%

By Ray Pinard | September 11, 2013

Here’s an interesting article by Shobhana Chandra, first published in Bloomberg, and republished on the Friends of the U.S. Chamber of Commerce web site.

Payrolls in the U.S. climbed less than projected in August after smaller gains the prior two months, indicating companies are being deliberate in their hiring as they wait for a pickup in demand. The unemployment rate unexpectedly fell as more people left the labor force.

The gain of 169,000 workers last month followed a revised 104,000 rise in July that was smaller than initially estimated, Labor Department figures showed today in Washington. The median forecast of 96 economists surveyed by Bloomberg called for an August increase of 180,000. Unemployment dropped to 7.3 percent, the lowest since December 2008.

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