Transcript of "US Talent Market Monthly September 2012"
September 7, 2012 U.S. EMPLOYERS HIRED A AVERAGE HOURLY EARNINGS THE UNEMPLOYMENT RATE TOTAL OF (ALL WORKERS) FELL TO 96,000 WORKERS IN AUGUST $23.52 1.7% ABOVE LAST YEAR 8.1% 9.1% LAST AUGUSTEMPLOYMENT GROWTH BELOW EXPECTATIONS IN AUGUST• Job creation remains positive but very tepid, as U.S. employers continue to hold back on hiring amid broader domestic and global uncertainty.• The unemployment rate decline in August was caused by workers leaving the labor force, pushing the U.S. labor force participation rate to a 30-year low.• The labor market recovery remains prolonged and subdued, prompting the question of when—or whether—the employment picture will brighten.The U.S. labor market continued to move at a lukewarm pace in August, as employers added just 96,000 jobs in the month. The prior twomonths’ employment figures were also revised downward by a net 41,000 jobs. Employment gains over the past six months have averagedless than 100,000 a month, as hiring activity remains hampered by concerns over global economic conditions and domestic policyuncertainties. The sluggish growth trend is further prolonging the time it will take to boost U.S. employment back to its pre-recession level.(Continued)