Financial Technology

Financial Technology

September 06, 2013

Jobs Numbers for August Show Economic Improvement

Ever since the economic collapse in 2008, there has been special attention to the jobs numbers. Whether you are part of a small business or a large corporation, it is apparent that the amount of people who are picking up new jobs is in direct correlation with the health of the economy. The latest job report shows that the economy seems to be continuing to heal with 176,000 new workers in August. That number equals the average gain in the last couple of years and looks like a sign that US employers are optimistic.

Along with a July jobs report that showed a gain of almost 200,000 there are reports that jobs that used to be leaving US shores are returning to America. Call center jobs in particular look like they are coming back to North America, after spending the better part of the last decade moving offshore at pretty prodigious rates.

When looking at the big picture, the August jobs report was not quite as good as some analysts thought it might be when it was released. Industry analysts believed that August would see a jobs growth of 184,000 but that doesn’t mean that the 176,000 that were added is a huge disappointment. There has also been a gain in consumer confidence over the last few months, and when you team that confidence with the jobs numbers, it looks like the US economy is getting back on track.

“It is steady as she goes in the job market,” Mark Zandi, chief economist at Moody’s Analytics Inc., said in a statement. Moody’s produces the figures with ADP. “Job gains in August were consistent with increases experienced over the past two-plus years.”

The fact that there were fewer Americans claiming unemployment benefits is another good sign for the economy. Jobless claims dropped by 9,000 to a level lower than most predictions.

Edited by Blaise McNamee

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