August jobs report: Unemployment rate falls to 4.2%, labor market adds 142,000 jobs

📆 06/09/2024 13:43:00
📰 YahooFinanceCA

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Labor Market News

Nonfarm Payroll Jobs,Bureau Of Labor Statistics

The US economy added fewer jobs than expected in August while the unemployment ticked lower.

released Friday showed the labor market added 142,000 nonfarm payroll jobs in August, fewer additions than the 165,000 expected by economists.

Wage growth, an important measure for gauging inflation pressures, rose to 3.8% year-over-year, up from a 3.6% annual gain in July. On a monthly basis, wages increased 0.4%, higher than the 0.2% seen the month prior.At the center of Friday's report is a debate over how severely the Fed should cut interest rates at its meeting later this month.

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