“The labor market was sprinting last year and now it’s getting closer to a marathon pace. A slowdown is welcome; it’s the only way to go the distance.”
Nick Bunker, head of economic research at the Indeed Hiring Lab, on the August jobs report.
sep 1, 2023
Why It Matters: The U.S. economy added 187,000 jobs in August - slightly better than expected - while the unemployment rate rose slightly as more people started looking for work (often a sign of a healthy job market).
The current unemployment rate is 3.8% - up from 3.5%.
Big Picture: The jobs report reflects a still growing, albeit slowing, job market - that could potentially signal slowing inflation.