Economic Buzz: US Employment Rise In Line With Target Level

5 Sep 2022 , 09:06 AM

Employment in the U.S. increased roughly in line with economist estimates in the month of August, according to a report released by the Labor Department. The report showed non-farm payroll employment rose by 315,000 jobs in August after surging by a revised 526,000 jobs in July. The increase in employment reflected notable job gains in the professional and business services, healthcare, and retail sectors. Meanwhile, the unemployment rate edged up to 3.7 percent in August from 3.5 percent in July. The report also showed average hourly earnings rose by $0.10 or 0.3 percent to $32.36 in August. The annual rate of wage growth remained unchanged at 5.2 percent. The report also showed average hourly earnings rose by $0.10 or 0.3 percent to $32.36 in August. The annual rate of wage growth remained unchanged at 5.2 percent. Powered by Commodity Insights