August payrolls grew by a less-than-expected 142,000, but unemployment rate ticked down to 4.2% [View all]
Source: CNBC
Published Fri, Sep 6 2024 8:30 AM EDT Updated 12 Min Ago
The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month.
Nonfarm payrolls expanded by 142,000 during the month, down from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according to a report Friday from the Labor Department’s Bureau of Labor Statistics.
At the same time, the unemployment rate ticked down to 4.2%, as expected.
The labor force expanded by 120,000 for the month, helping push the jobless level down by 0.1 percentage point, though the labor force participation rate held at 62.7%. An alternative measure that includes discouraged workers and those holding part-time jobs for economic reasons edged up to 7.9%, its highest reading since October 2021.
Read more: https://www.cnbc.com/2024/09/06/jobs-report-august-2024.html
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8:30 AM · Sep 6, 2024
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Article updated.
Previous article/headline -
Published Fri, Sep 6 2024 8:30 AM EDT Updated 3 Min Ago
The U.S. economy created slightly fewer jobs than expected in August, reflecting a slowing labor market while also clearing the way for the Federal Reserve to lower interest rates later this month.
Nonfarm payrolls expanded by 142,000 during the month, down from 89,000 in July and below the 161,000 consensus forecast from Dow Jones, according to a report Friday from the Labor Department's Bureau of Labor Statistics.
At the same time, the unemployment rate ticked down to 4.2%, as expected.
This is breaking news. Please check back for updates.
Original article -
Nonfarm payrolls were expected to expand by 161,000 in August while the unemployment rate fell to 4.2%, according to economists surveyed by Dow Jones.
This is breaking news. Please check back for updates.
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