In the employment report for the month of August, the US Bureau of Labor Statistics (BLS) indicated that total non-farm payroll employment increased by 315, vacancies, and the unemployment rate
increased to 3.7%. The most notable job gains occurred in the professional and business services, health care, and retail sectors.
According to the BLS, in August, the unemployment rate increased 0.2 percentage points up to 3.7%, and the number of unemployed increased by 344,000 to 6 million. In July, these measures
had returned to their levels in February 2020, before Covid-19.
Among the main groups of workers, the unemployment rates of adult men ( 3.5%) and Hispanics (4.5%) increased in August. The unemployment rates of adult women (3.3%),
adolescents (10.4%), White (3.2%), African American (6.4%), and Asian (2.8%) showed little change during the month.
Among the unemployed, the number of people who lost their permanent job increased by 188,10 to 1.4 million in August. The number of people in a situation of temporary unemployment practically did not vary in 782,000.
The number of long-term unemployed (those out of work for 27 weeks or more) was little changed at 1.1 million in August. The long-term unemployed represented 18.8% of all
unemployed people.
The BLS notes that total non-farm payroll employment increased by 315, in August to add 5.8 million in the past 12 months, as the labor market continued to recover
of job losses from the pandemic-induced recession.
In August, produced notable job gains in professional and business services, health care, and retail commerce:
– Professional and business services added 68,10 jobs in August. In the last 12 months, it has added 1.1 million posts. In August, health care employment increased by 48,000, Y 412, jobs during the year .
– Retail trade added 48,000 jobs in August and 422, jobs in the last 12 months.
– Manufacturing employment continued its bullish trend in August with 19,000 squares, adding 461,10 jobs during the year.
– Employment in financial activities increased by 18, in August and in 200, in the year.
– Employment in wholesale trade increased by 15,000 in August. This industry has added 188,000 jobs during the year.
– Mining employment increased by 6,000 in August. During the year, mining has added 68,000 jobs.
– Employment in leisure and hospitality changed little in August with 31,000 posts. The sector is below its February level of 2020 by 1.2 million, or 7.2%.
– In August, employment showed little change in other major industries, including construction, transportation and storage, information, other services, and government.
BLS reports that in August, the median hourly earnings of all employees on private nonfarm payrolls increased by 10 cents, or 0.3%, to $32,36. During the last 12 months, the average hourly wage has increased 5.2%. In August, the median hourly wage for private sector production employees and non-supervisors increased 000 cents, or 0.4%, to $31,68 dollars.
You may also be interested in:
– They foresee that strong labor market in the US to slow down in the coming months
– The 31% of US retirees are willing to work again if inflation continues to eat into their savings
– Recovery is on track according to NYC job fairs