The US economy added 130,000 jobs in August. The unemployment rate remained steady at 3.7%. The economy has gained jobs for 107 consecutive months, but the pace of hiring has slowed recently.
Employers added 130,000 jobs in August. The unemployment rate remained steady at 3.7%.The economy has gained jobs for 107 consecutive months, but the pace of hiring has slowed recently. The United States has added a monthly average of 158,000 jobs this year, compared to 223,000 in 2018. Hiring got a big boost in advance of next year's US census, as the government hired 25,000 temporary employees to help with the nationwide project.Wages grew at a healthy 3.2% over the past year.
"However, given creeping caution about the international backdrop and uncertainty on trade, firms may be increasingly cautious about hiring too." The escalating trade war between the United States and China has injected hiring uncertainty in sectors feeling the effects of tariffs, such as manufacturing.Only 3,000 jobs were added in that sector last month, below expectations--half this year's average of 6,000 and less than a quarter compared with the July figure.
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