August Job Report: US Adds 187,000 Jobs
The United States added 187,000 new jobs in August. Although this was another consecutive month for jobs added in the U.S., there was close to zero job growth in August compared to the 187,000 also added in July.
In addition, the U.S. unemployment rate rose to 3.8% in August.
Is the U.S. job market growing?
In August, US hiring saw a 3.6% drop, though sectors like tech have not been affected to the extent of others.
The Workforce Confidence Index indicates growing confidence among US members in job security, and while job applications per applicant remain high, the rate is slowing.
U.S. unemployment rates by group:
- Adult women: 3.2%
- Adult men: 3.7%
- Teenagers: 12.2%
- Whites: 3.4%
- Blacks: 5.3%
- Asians: 3.1%
- Hispanics: 4.9%
Additional employment statistics for August 2023:
- The number of discouraged workers, who believed that no jobs were available for them, increased from 335,000 in July to 386,000 in August.
- Average hourly earnings for employees on nonfarm payrolls rose by 8 cents to $33.82.
- The number of workers employed part-time for economic reasons rose slightly from 4 million in July to 4.2 million in August.
U.S. industries with notable job growth in August
Healthcare job growth remained steady with 71,000 jobs added in August compared to the 63,000 added in July.
The subsectors that accounted for the majority of this growth were ambulatory health care services with 40,000 jobs added, nursing and residential care facilities with 17,000 jobs added, and hospitals with 15,000 jobs added.
Leisure and hospitality
As the summer draws to a close, leisure and hospitality saw a notable spike in growth with 40,000 jobs added.
Despite these gains, however, August’s 40,000 jobs still didn’t match the average 61,000 jobs added per month over the prior 12 months.
In August, employment in social assistance rose by 26,000 jobs.
Individual and family services accounted for about 80% of social assistance jobs added in August.
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