August's Job Report: Rate Remains at 4.9%
Sep 2, 2016, 08:42 AM
by
Kabnoog Xiong
August’s job report saw an increase of 151,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Job gains occurred in several service-providing industries. Losses continue to plague the mining industry.
August’s job report saw an increase of 151,000 nonfarm jobs, according to the U.S. Bureau of Labor Statistics’ monthly employment report. Job gains occurred in several service-providing industries. Losses continue to plague the mining industry. Employment in construction, manufacturing, transportation and warehousing changed very little over the month.
Over the past three months, job gains have averaged 232,000 per month.
August’s unemployment rate remained at 4.9%, unchanged from the previous two months. The civilian labor force participation rate remained at 62.8%, same as July.
The report found that in August, average hourly earnings for employees on private, nonfarm payrolls rose by 3 cents to $25.73. Over the year, average hourly earnings have risen by 2.4%.