“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.
Published on
sep 1, 2023
jobseconomy
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.
US employers added a solid 187,000 jobs in August in sign of a still-resilient labor market
Unemployment rate unexpectedly rose to 3.8% in August as payrolls increased by 187,000
