Chart of the Day: Net New Jobs in August

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The August jobs report is out, and it doesn’t have much good news. My usual monthly jobs chart is below: since the economy needs about 90,000 new jobs just to keep up with population growth, I subtract 90,000 from the raw jobs figures to show net new job creation. And what this shows is that we’re treading water: net job creation in August was basically zero. The initial June and July jobs numbers were also revised downward a bit.

However, in a reversal of last month, when the headline unemployment number went up (from 8.22% to 8.25%) even though more people were working, this month the unemployment number went down (to 8.11%) even though the jobs data was flat. This is because about half a million people dropped out of the labor force. Oddly, though, this is not because they joined the ranks of discouraged workers. In fact, the number of discouraged workers was down a bit. Long-term unemployment was also down. So there are a few small glimmers of good news here. However, when you dig below the surface of the report it mostly stays pretty bleak. Overall, it looks a lot as if net job creation has slowed to nearly nothing in the past five months.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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