US Jobs Mixed News: Unemployment Rate Falls Amid Slowing Hiring
US Jobs Mixed News Overview
The latest US jobs mixed news indicates a decline in the unemployment rate, yet hiring appears to be slowing. The most significant job gains last month were in health care with an increase of 44,100 jobs, followed by leisure and hospitality which saw gains of 46,000 positions, and construction adding 34,000 jobs.
Sector Performance
- Manufacturing experienced the largest losses, shedding approximately 24,000 positions.
- Retail trade continues to struggle, losing 11,100 jobs for the third consecutive month.
- Information tech also faced a decline with an estimated 7,000-job drop.
In July, the jobless rate was speculated to be influenced by external factors such as weather and seasonal auto plant shutdowns in Michigan. Economists noted a significant spike in temporary layoffs, jumping to 1.06 million from 813,000 the previous month. However, in August, that figure decreased to 872,000, with nearly 70,000 new entrants entering the labor force.
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.