Bureau of Labor Statistics<\/a>. The report noted the number of unemployed persons increased by 514,000 to 6.4 million.<\/p>\n\n\n\n\u201cBoth measures are little different from a year earlier, when the unemployment rate was 3.7 percent and the number of unemployed persons was 6.0 million,\u201d the BLS reported.<\/p>\n\n\n\n
The labor participation rate increased by 0.2 percent to 62.8 percent.<\/p>\n\n\n\n
The 187,000 jobs added were down from the annual growth in the past year of 271,000.<\/p>\n\n\n\n
The jobs report was the second since the Federal Reserve\u2019s latest rate hike to curb inflation in July. The Federal Open Market Committee is slated to meet Sept. 19-20 to look at the economy and decide on the federal target rate, which is currently 5.25 to 5.5.<\/p>\n\n\n\n
After July\u2019s meeting, Federal Reserve Chief Jerome Powell said the FOMC remains committed to getting inflation down to 2 percent and would be looking at the two jobs reports and consumer price index reports to decide on rates.<\/p>\n\n\n\n
\u201cWe\u2019re going to look at the data, and that could mean another hike in September, or we could decide to maintain at that level,\u201d Powell said.<\/p>\n\n\n\n
The healthcare industry added 71,000 jobs. The leisure and hospitality sector increased employment by 40,000. Social assistance jobs surged by 26,000 jobs and construction by 22,000.<\/p>\n\n\n\n
Transportation and warehousing employment dropped by 34,000. Information employment also fell by 15,000 jobs.<\/p>\n\n\n\n
The average earnings increased in August by 8 cents to $33.82 per hour. Pay is up 4.3 percent in the past year.<\/p>\n\n\n\n
The average workweek increased to 34.4 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"Unemployment rose slightly and the pace of job growth slowed in August. Unemployment ticked up to 3.8 percent…\n","protected":false},"author":1,"featured_media":3403,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_grid":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[28,3],"tags":[],"class_list":["post-4205","post","type-post","status-publish","format-standard","has-post-thumbnail","category-independent","category-industry","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/4205","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/comments?post=4205"}],"version-history":[{"count":0,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/posts\/4205\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media\/3403"}],"wp:attachment":[{"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/media?parent=4205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/categories?post=4205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/niada.com\/dashboard\/wp-json\/wp\/v2\/tags?post=4205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}