August Jobs Report

August Jobs Report
Nonfarm payrolls increased by 187,000 in August versus estimate of 170,000.
The unemployment rate jumped to 3.8% versus 3.5% in July.
Average hours worked was 34.4 hours.
Labor force participation rate: 62.8%. Highest level since before covid.
Unemployment is rising because of an overall expansion in the labor force not a net decrease in jobs. There are more people looking for jobs for whatever reason. People that were sitting out of the workforce are entering the workforce again. This could be that households need more members earning income to make ends meet. There are more people seeking jobs and fewer people finding them. Unemployment is up because the participation rate increased. There was a net increase in jobs.
My suggestion would be to keep your work performance up and do your best to keep your job. It doesn’t hurt to start applying for some jobs. It will help you gauge the job market in your area and for your profession.
Tags:
august jobs report, jobs report, august jobs report 2022, august jobs report time, jobs, august job report, august, us jobs report, august jobs, august jobs 2022, jobs report today, august employment report, august jobs notification 2022, job report, report, employment report, jobs market, reporting, job, labor department, top stories, economy, us economy, u.s. economy, biden economy, economy explained, economy news, economy live, split economy, world economy, china economy, global economy, indian economy, us economy 2023, economy rescue, economy of china, biden on economy, american economy, us economy crisis, joe biden economy, biden economy live, united states economy, biden economy speech live, economic divide, economic crisis, the economy of united states, economic cool down