Unemployment Rate Ticks Up to 3.7%
315K Jobs Added in August, Unemployment Rate Ticks Up to 3.7%
The number may foreshadow some slowing of the job market and will be closely scrutinized by the Federal Reserve.
Employers created 315,000 jobs in August, in line with expectations but a notable downshift from July, the Labor Department reported on Friday
The number compares to the revised 526,000 created in July
which was more than twice what had been forecast
Job gains were strongest in professional and business services, health care and retail trade.
The unemployment rate edged up to 3.7% from 3.5%.
The number may foreshadow some slowing of the job market and will be closely scrutinized by the Federal Reserve
which has vowed to continue raising interest rates until it quashes inflation that is running above 8% a year
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Unemployment Rate Ticks Up to 3.7% in USA
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