The unemployment rate dipped two-tenths of a percentage point to 8.1 percent in August, the U.S. Bureau of Labor Statistics reported Friday, even though employers only added a disappointing 96,000 jobs to the nonfarm payroll employment numbers.
Since the beginning of this year, the unemployment rate has held in a narrow range of 8.1 to 8.3 percent, the BLS noted. Much of the reason for the decline in the unemployment rate came from a decline in both the civilian labor force (154.6 million) and the labor force participation rate (63.5 percent) in August. The employment-population ratio, at 58.3 percent, was little changed.
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