August NFP result are in and boy have they impressed. The US has enjoyed another month of positive jobs data with a further in crease of 1.371 million jobs in August and unemployment falling to 8.4%.
However low participation rate has weighed down on the positivity yet again. We have seen the participation rate sit at 61.7% which is well bellow the pre-crisis rate of 63% and under the projected 61.8%.
So if we look at the true figure we are looking at a slowing down jobs market, a stimulus package coming to a potential end, over 10 million American’s still looking for work and many people pushing their way in from temporarily jobless to permanently unemployed. So whilst it’s all sunshine and rainbows today, the clouds are closing in and the thorns are beginning to pierce through.