According to today’s report, 550,000 people entered the workforce in August. That’s a huge jump of new people looking for work, either because they haven’t worked before or because they decided that this was the month to get back off the couch and start looking. With that many people entering the workforce, the fact that the unemployment number only rose 0.1% is quite a good thing. In fact, more than half of those people who began looking for work in August, or 290,000, landed a job in August.
It is possible that coming at the end of the summer an uptick in people looking for work is not as positive as it appears.