WASHINGTON, D.C. — The U.S. economy has added a total of 142,000 nonfarm payroll jobs in August, according to the U.S. Bureau of Labor Statistics (BLS). Though this marks an uptick relative to July’s revised figure of 89,000, CNBC reports that the number falls below expectations and reflects a slowdown in the labor market. Dow Jones economists previously predicted that the economy would add 161,000 jobs in August.
Healthcare and construction saw notable gains in August, increasing by 31,000 and 34,000 jobs, respectively. Healthcare’s average monthly over the prior 12 months was 60,000. Employment gains in the social assistance sector slowed with 13,000 jobs added, which falls below the average monthly gain of 21,000. Employment in the manufacturing sector decreased by 24,000 positions, and other major industries saw little change.
The unemployment rate changed little in August, falling to 4.2 percent. This aligns with predictions and marks a minimal decrease relative to the previous month, when the unemployment rate sat at 4.3 percent.
Additionally, the BLS revised down the number of jobs added in June and July by a total of 86,000 fewer jobs. June was revised down from 179,000 to 118,000, and July was revised down from 114,000 to 89,000.