financials

US economy creates 96,000 jobs but figure disappoints

The US economy created 96,000 jobs in August, according to official figures from the Bureau of Labor Statistics.

However, the figure was lower than expected and revisions to June and July data mean that 41,000 fewer jobs were created than previously reported.

Analysts had expected non-farm payrolls to grow by 125,000 last month.

The unemployment rate fell to 8.1%, compared with 8.3% in July, but only because more people gave up looking for work.
Weak growth

Employment increased in food services and drinking places, professional and technical services and healthcare during August, the Bureau said.

Employment growth has averaged 139,000 a month in 2012, the Bureau said, compared with an average monthly gain of 153,000 in 2011.

The percentage of Americans who either have a job or who are looking for one fell to 63.5%, the lowest participation rate since 1981.

The weak figures could put pressure on President Barack Obama in his re-election campaign, given than rival Mitt Romney has put jobs at the centre of the national debate.

read more:  http://www.bbc.co.uk/news/business-19519037