Job creation in August falls to 156000, lower than 2017 average

02 September, 2017, 01:13 | Author: Franklin Nunez
  • US employers add 156000 jobs in August; unemployment rate edges up to 4.4%

The August jobs report showed the rate of growth in U.S. employment to be below the average of 176,000 per month so far this year - the average gain in 2016 was 187,000. The figure for July was revised down to 189,000 from an initial 209,000, while for June number was reduced from 231,000 to 210,000, compounding the weaker picture. Hourly pay increased 2.5% from August 2016 to August 2017, unchanged from the prior month.

Still, the report shows job growth spread across most of the economy, with almost two-thirds of industry sectors adding jobs during the month.

Mack's story underscores the broader rebound in the manufacturing sector, which lost more than two million jobs in the last recession, but has partly clawed back its way back since then. Construction employment jumped by 28,000 jobs last month.

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The nation's resilient labor market showed signs of slowing last month as hiring eased, the unemployment rate ticked up and wage growth remained subdued, the government said Friday. Wage growth typically averages 3.5 percent to 4 percent annually when unemployment is this low.

The jobless figure is calculated from a separate household survey, and by this measure the economy did not generate enough new work opportunities in August to meet the growth in the working-age population.

The August report does not include any effects from Hurricane Harvey, as the collection of the data used for the report was completed before the storm struck. Non-farm payroll have increased by an average of 176,000 per month so far this year.

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The ranks of the unemployed rose by 151,000 to 7.13 million, while the employment level fell 74,000 to 153.4 million.

Employment in business and professional services and health services had decent growth as well. There was a modest rise in the unemployment rate from 4.3% to 4.4%, as the number of unemployed people in the USA economy stood at 7.1 million. It indicates that while growth is still ongoing, it's at a fairly slow pace. Retail stores and auto dealers added just 800 jobs after having lost 1,900 in July. In August, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $22.12. The rate is still down half a point from a year ago and twice that when including sources of "hidden unemployment" like discouraged workers.

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