JOBS, NO JOBS

What to make of this morning'sEmployment Situation Report from the BLS.

The economy added 144,000 jobs in August. Hey, that's better than the upwardly revised 73,000 created in July, but still far short of the level needed just to keep pace with the number of new people looking for work or to draw back into the labor market people that gave up looking in despair. As a result of the still anemic jobs outlook for most people, 152,000 people bowed out of the labor force.

EPI will have more on this shortly (see here).