August Jobs Report: 142,000 New Jobs and 4.2% Unemployment Rate

Friday, 6 September 2024, 05:30

The August jobs report reveals 142,000 new jobs added, with a 4.2% unemployment rate, indicating challenges in the labor market. Wage growth also rose to 3.8%.
Marketwatch
August Jobs Report: 142,000 New Jobs and 4.2% Unemployment Rate

Latest Economic Insights from the August Jobs Report

The August jobs report highlights that the U.S. economy added 142,000 new jobs in August, which is significantly below the forecast of 161,000. The unemployment rate has seen a slight decrease, now reported at 4.2%, down from 4.3% in July.

Key Wage Developments

Moreover, hourly wages have experienced an increase of 0.4% in August, raising the annual wage growth to 3.8%, compared to 3.6% from last year.

Revisions of Past Job Gains

It is noteworthy that job gains in July were revised down to 89,000 from an earlier estimate of 114,000. Similarly, revisions were made for June’s job gains, adjusted down to 118,000 from 179,000.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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