Economic Updates Posted on

August 2019 Employment Situation

HEADLINES
Nonfarm payroll employment rose 130,000 in August, well below the 160,000 expected by most economists. There were revisions amounting to a reduction of 20,000 jobs over the last two months. However, the unemployment rate held steady at 3.7%, almost a 50-year low, and earnings rose on both a monthly and annual basis by more than anticipated. The labor force participation rate rose by 0.2% to 63.2%. Temporary workers related to the 2020 Census accounted for 25,000 workers.

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By: Erik Olsen