US Adds 65,000 Jobs in August, but Pay Gains Remain Weak
· World · The Independent, BBC News, Bloomberg
The US added 65,000 jobs in August, rebounding from a loss of 23,000 jobs in July. The unemployment rate ticked up to 4.2%, but remains low. Job gains were offset by slight pay increases and a shrinking labor force due to immigration crackdowns and retirements. Hiring remains below pre-pandemic levels.
Why it matters
The sluggish job growth and weak pay gains could affect economic recovery and consumer spending.
Read the original report — The Independent
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.