The unemployment rate declined slightly to 6.1%, but that's misleading. The labor force declined, slightly, and there are more peoploe not in the labor force. Fewer people are entering the labor force now than they were in July.
On the more mixed side of the equation, the number of long-term unemployed declined, the number of people employed part-time (underemployed) was unchanged, and the broader U-6 measure of unemployment dropped from 12.2% to 12.0%.
The usual caveats apply here: this report is subject to upward revisions - but also downward revisions. In this jobs report, the BLS lowered their estimates for previous months, with their estimates of June and July combined being lowered by 28,000 jobs. So this isn't the final word on the economy, but it is a sluggish finish to the month.
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