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06.09.2019 20:42

U.S. nonfarm payrolls increase less than expected in August

The U.S. Labor Department announced on Friday that nonfarm payrolls increased by 130,000 in August after a downwardly revised 159,000 gain in the prior month (originally an increase of 164,000).

According to the report, employment in federal government rose by 28,000, due mainly to the hiring of 25,000 temporary workers for the 2020 Census. Meanwhile, private-sector employment rose by 96,000, with notable job gains in health care (+24,000 jobs) and financial (+15,000) activities, while mining (-6,000) lost jobs.

The unemployment rate remained unchanged at 3.7 percent in August.

Economists had forecast 158,000 new jobs and the jobless rate to stay at 3.7 percent.

The labor force participation rate edged up to 63.2 percent from 63 percent in July, while hourly earnings for private-sector workers rose 0.4 percent m-o-m (11 cents) to $28.11, following an unrevised 0.3 percent m-o-m gain in July. Economists had forecast a 0.3 percent m-o-m advance in the average hourly earnings. Over the year, average hourly earnings have increased by 3.2 percent, following a revised 3.3 percent rise in July (originally a gain of 3.2 percent).

The average workweek increased by 0.1 hour to 34.4 hours in August, matching economists’ forecast. 


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