CNBC reporter Sarah Eisen joined the hosts on MSNBC’s “Morning Joe” to discuss the disappointing jobs report announced by the Department of Labor Friday morning.
“It’s a disappointment, a big one,” Eisen told MSNBC hosts Mika Brzezinski and Joe Scarborough. “The economy only added 142,000 jobs during the month of August. Economists were looking for a number above 200,000. Two hundred twenty thousand was the estimate. We only got 142,000.”
Moreover, Eisen labeled this “the worst level of job creation in terms of the monthly number all yearlong.”
“This is not a good report, at least on the headline number,” she continued. “We were getting used to 200,000 jobs being created every month.”
Unsurprisingly, the media outcry on Twitter was equally — if not more — disappointed.
“Whoa! What happened to the #jobs recovery? Only 142K added in Aug. #JobsReport,” reads a tweet from CNNMoney.
Chief economics writer for FiveThirtyEight Ben Casselman noted on the social media site, “For the 49th time in the past 50 months, more unemployed workers dropped out of the labor force than found jobs.”
“You can’t dismiss these jobs numbers- it’s not great news,” tweeted Douglas Holtz-Eakin, president of the American Action Forum and former director of the Congressional Budget Office.
According to the report, the unimpressive 142,000 jobs added by employers marked the lowest job creation in eight months. The unemployment rate shrank ever so slightly from 6.2 percent to 6.1 percent, which could be because some unemployed individuals simply stopped actively searching for jobs.
Over the past year, the average amount of jobs added per month was 212,000, making August’s 142,000 look even worse.
