Workspan Daily |
The U.S. Economy Added 130,000 Jobs in August
The United States economy continued to add jobs in August but did so at a lower rate than expected. There were 130,000 jobs added last month, according to the jobs report released Friday by the Department of Labor, which fell short of economist’s projections of 160,000.
The unemployment rate held steady at 3.7%, which is close to a 50-year low. Average hourly earnings rose 0.4%, which brings the 12-month increase to 3.2%.
The DOL noted that employment in federal government rose last month, largely because of the hiring of temporary workers for the 2020 Census. There were notable job gains in health care and financial activities, while mining lost jobs.
The private sector added 96,000 jobs, which is off the pace so far in 2019, and likely an indication that businesses are becoming more cautious in hiring. The DOL’s report also revised down job gains for June and July by a total of 20,000.
About the Author
Brett Christie is a staff writer at WorldatWork.
