USA: job creation below expectations

(CercleFinance.com) - The US economy generated just 142,000 non-farm jobs in August, according to the Labor Department, below market expectations, which were generally around 165,000.


However, the unemployment rate eased by 0.1 points to 4.2%, where economists had expected it to remain stable at 4.3%, while the labor force participation rate stood at 62.7%, and average hourly earnings rose at an annual rate of 3.8%.

In addition, non-farm payrolls for the previous two months were revised, from 179,000 to 118,000 for June and from 114,000 to 89,000 for July, for a total revision balance of -86,000 for these two months.

Copyright (c) 2024 CercleFinance.com. All rights reserved.