The US economy generated 187,000 new non-agricultural jobs during the month of August, a figure higher than the 157,000 new jobs created in July, although the unemployment rate rose three tenths, up to 3.8 %, according to published data. this Friday by the Department of Labor.

Thus, the US labor market continues to show signs of strength and has created jobs for 32 consecutive months, especially in the health, leisure and hotel, social assistance and construction sectors. Although the data for August is below the average of 271,000 jobs for the last 12 months, this represents a revitalization of hiring.

Especially when the Labor Department has reported that it has revised downward the data for the previous two months, lowering June by 80,000 jobs, from 185,000 to 105,000, and July by 30,000, from 187,000 to 157,000. With these revisions, 110,000 jobs disappeared compared to what was previously reported.

In the case of the unemployment rate, the data stood at 3.8 % in August, compared to 3.5 % the previous month. Thus, the unemployment rate in the United States has fluctuated between 3.4 % and 3.8 % so far in 2023.

The number of unemployed reached 6,355 million in the eighth month of the year, compared to 5,841 million in July, including 1,296 million long-term unemployed (those without work for 27 weeks or more), which represented 20.4 % of the total number of unemployed

On its side, the number of people employed part-time for economic reasons increased by 221,000, up to 4.221 million in August. Likewise, the labor force participation rate stood at 62.8%, two tenths more.

Source: dpa

(Reference image source: Marten Bjork, Unsplash)

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