US Creates 162,000 Jobs in August While Wages Lag Behind Inflation
· Telemundo McAllen (KTLM)
In August, the U.S. economy added 162,000 jobs, significantly exceeding expectations of 53,000, while the unemployment rate remained steady at 4.1%. The Labor Department's report also revised June's job numbers up by 11,000 to 31,000 and July's from a loss of 23,000 to a gain of 44,000, resulting in a net increase of 21,000 jobs. The restaurant and bar sector saw the largest gains with 59,000 jobs added, while local government education added 42,000. However, the tech sector lost 23,000 jobs. Wage growth remained stagnant at 3.1%, falling behind inflation, which was 3.4% in July.
AI summary · Source: Telemundo McAllen (KTLM) →
