Employment figures for August prove disappointing
Posted on August 31st, 2011 Read time: 1 minutes
National employment figures were less than impressive in August, as permanent and contract workers were forced to deal and operate in a volatile marketplace.
ADP's National Employment Report showed a pace below what's needed to maintain a consistent unemployment rate. In August, the U.S. nonfarm private business sector added 91,000 jobs, a decrease from the previous month's revised figure of approximately 109,000.
Payrolling in small businesses (up to 49 workers) added 58,000 in August, while employment on medium payrolls (50 to 499 workers) increased by 30,000, according to the report.
"It is clear that the recovery from the crisis has been much less robust than we had hoped," said Ben Bernanke, chairman of the Federal Reserve, as quoted by Bloomberg. "Economic growth has, for the most part, been at rates insufficient to achieve sustained reductions in unemployment."
The source predicts that when official figures are released by the Labor Department, they will show 100,000 jobs were added in August, keeping the unemployment rate steady at 9.1 percent.
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Posted on August 31st, 2011 Read time: 1 minutes
National employment figures were less than impressive in August, as permanent and contract workers were forced to deal and operate in a volatile marketplace.
ADP's National Employment Report showed a pace below what's needed to maintain a consistent unemployment rate. In August, the U.S. nonfarm private business sector added 91,000 jobs, a decrease from the previous month's revised figure of approximately 109,000.
Payrolling in small businesses (up to 49 workers) added 58,000 in August, while employment on medium payrolls (50 to 499 workers) increased by 30,000, according to the report.
"It is clear that the recovery from the crisis has been much less robust than we had hoped," said Ben Bernanke, chairman of the Federal Reserve, as quoted by Bloomberg. "Economic growth has, for the most part, been at rates insufficient to achieve sustained reductions in unemployment."
The source predicts that when official figures are released by the Labor Department, they will show 100,000 jobs were added in August, keeping the unemployment rate steady at 9.1 percent.
