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US labor market adds 142K jobs in August, unemployment drops

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142,000 jobs were added to the US labor market in August, according to the US Bureau of Labor Statistics's jobs report, below economist expectations for...

142,000 jobs were added to the US labor market in August, according to the US Bureau of Labor Statistics's jobs report, below economist expectations for 165,000 nonfarm payroll jobs. Additionally, the unemployment rate eased down to 4.2% from 4.3% in July, while US hourly earnings ticked up to 3.8% year-over-year.And the expectation was 100 65,000.

And so as we're taking a look at some of the reaction here in the futures, as of right now, we're still flat for the dow, but we're still in negative territory across the S and P 500 the NASDAQ at this juncture Matty.I want to point out the number of people on temporary layoffs declined by 190,000 over the month of August, the number of permanent job losers was essentially unchanged.

Here, I do want to note construction employment rising by 34,000 that is higher than the average monthly gain of 19,000, not a huge shift, but that was something that we were interested in looking at as an indicator of where the housing market is heading. The pivotal August jobs report will provide clues to the size of the Fed's rate cut this month and the health of the economy.Danish transport firm DSV is slightly ahead in the bidding race for German state railway Deutsche Bahn's logistics unit Schenker, several people familiar with the sales process told Reuters on Friday.

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August jobs report: Unemployment rate falls to 4.2%, labor market adds 142,000 jobsThe US economy added fewer jobs than expected in August while the unemployment ticked lower.
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