The US economy added lower-than-expected jobs in August, with the previous month's data significantly revised downward, indicating a slowdown in the labor market of the world's largest economy, possibly at a faster pace than anticipated.
Data released by the US Department of Labor on Friday showed that the U.S. economy added 142,000 jobs in August, compared to 89,000 jobs added in July, after the figure was revised downward by 25,000.
Analysts from Dow Jones had expected the addition of 161,000 jobs during the same period. The data also showed a slight decrease in the unemployment rate, dropping to 4.2% from 4.3%.
|
Monthly US Job Data |
||||
|
Forecasts |
Previous |
Current |
Change |
|
|
Number of Jobs ('000) |
161 |
89 |
142 |
+53 |
|
Unemployment Rate (%) |
4.2 |
4.3 |
4.2 |
(0.1) |
|
Average Wage Per Hour ($) |
-- |
35.07 |
35.21 |
0.14+ |
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