U.S. Job Growth Tepid, Jobless Rate Slips To 7.3 Percent

@AFP
U.S. Job Growth Tepid, Jobless Rate Slips To 7.3 Percent

WASHINGTON, District of Columbia (AFP) – U.S. job growth was tepid in August but the unemployment rate ticked down to 7.3 percent, the Labor Department reported Friday.

The United States added 169,000 jobs last month and the prior two months’ job numbers were revised sharply lower.

The August jobs growth number came in well below the average analyst estimate of 177,000.

The slight decline in the jobless rate was unexpected, and came as the number of people participating in the labor force fell.

The jobless rate had been expected to come in at 7.4 percent, unchanged from July.

The August jobs report revealed the economy gained 74,000 fewer jobs in the prior two months than previously estimated.

The July number was slashed to 104,000 from 162,000, and the June total was lowered to 172,000 from 188,000.

Photo Credit: AFP/Chip Somodevilla

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Joe Biden
President Joe Biden

Last week,The Economist's presidential polling average set in motion a reevaluation of the general election when President Joe Biden pulled ahead of Donald Trump for the first time since September 2023.

Keep reading...Show less
Alex Jones

Alex Jones

At a press conference on Tuesday, March 26, Maryland Gov. Wes Moore told reporters that there was no sign of terrorism or foul play in the collapse of Baltimore's Francis Scott Key Bridge — which had been struck by a freighter. According to Moore and the Biden White House, there was no indication that it was anything other than a tragic accident.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}