La Oferta

October 2, 2022

US unemployment rate unchanged at 3.9 pct. in August

 Washington, Sep 7 (EFE).- The United States’ headline unemployment rate was unchanged at 3.9 percent in August, a month in which nonfarm payrolls in the world’s largest economy rose by 201,000, the Labor Department said Friday.

The US economy remains close to full employment, while the number of jobs added last month was in line with economists’ forecasts.

Average hourly wages for all employees on private nonfarm payrolls rose in August by $0.10 relative to July to $27.16; average hourly earnings climbed 2.9 percent relative to August 2017, and economists expect labor costs to keep rising.

The labor force participation rate (the share of the population 16 years and older either working or seeking work) fell from 62.9 percent in July to 62.7 percent in August.

US employment has risen for 95 consecutive months, the longest jobs-expansion streak on record.

The jobless rate came in under 4 percent for the fourth time this year.

The unemployment rate unexpectedly climbed to 4 percent in June – up from 3.8 percent in May, the lowest level since 2000 – mainly because more people were actively looking for work.