October 3, 2023
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.
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
by Emily Hooker, based in Texas
