U.S. Job Growth Slows in August

The U.S. economy added just 22,000 jobs in August, a significant slowdown compared to previous months. This figure raises concerns about the labor market’s strength and its implications for economic growth.

Unemployment Rate Remains Steady

Despite the low job growth, the unemployment rate held steady at 3.5%. Analysts suggest that this stability may provide some reassurance amid signs of slowing employment gains.

Wage Growth Continues

Average hourly wages increased by 0.3% in August, contributing to a year-over-year rise of 4.3%. This ongoing wage growth signals continued demand for labor, even in a challenging job market.

Sector Performance Varied

Job gains were primarily seen in healthcare and education, while sectors such as retail and hospitality experienced declines. This uneven recovery highlights the varying impacts of economic conditions across industries.