The U.S. August employment report is not a game-changer. The employment data were better than on their face, but not so strong as to cause a reassessment of the outlook for weak growth and continued government stimulus. Payrolls printed -54,000 in August, but June-July were revised up +123,000 in total. They still show declines. August private jobs printed +67,000, with census -114,000, and state and local government -10,000. Payrolls also included: manufacturing -27,000 (mainly in autos and the first drop since December, but all due to seasonal adjustment, where General Motors 2010 alteration of the retooling schedule has changed patterns), construction +19,000. August private jobs printed +67,000, with census -114,000, and state and local government -10,000. Payrolls also included: manufacturing -27,000 (mainly in autos and the first drop since December, but all due to seasonal adjustment, where General Motors 2010 alteration of the retooling schedule has changed patterns), construction +19,000 (where 10,000 stemmed from a strike ending), retail -4,900, finance -4,000, leisure +13,000, temporary jobs +16,800, and health care +28,200. The civilian unemployment rate advanced +0.1 point to 9.6% but the labor force participation rate was up 0.1 point to 64.7%, as expected, in a part rebound that might reflect more workers saying they are looking as continuing unemployment benefits were extended. The Bureau of Labor Statistics confirmed that there was "less workforce exodus." Private Average Hourly Earnings advanced 3 cents for +2.1% over the year, and hours rose. These suggest rising incomes and production.