U.S. August Employment Increase of 142,000 Falls Short of Expectations

The increase in nonfarm payrolls in the United States for August fell short of expectations. However, the unemployment rate slightly decreased, and average wages rose.

On the 6th (local time), the U.S. Department of Labor reported that nonfarm payrolls in the U.S. increased by 142,000 compared to the previous month. This figure is significantly below the average monthly increase of 202,000 over the past 12 months. It also fell well short of the expert forecast of 164,000 compiled by Investing.com.

By sector, employment in the construction sector increased by 34,000 last month, showing a growth rate twice the 12-month average of 19,000. In contrast, employment in the healthcare sector rose by 31,000, less than half of the 12-month average of 60,000.

The unemployment rate for August was 4.2%, in line with expert forecasts. Compared to July (4.3%), it decreased by 0.1 percentage points. The hourly average wage growth rate was 0.4% month-over-month and 3.8% year-over-year.