Unemployment Rate Ticks Up to 3.7%

315K Jobs Added in August, Unemployment Rate Ticks Up to 3.7%

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The number may foreshadow some slowing of the job market and will be closely scrutinized by the Federal Reserve.

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Employers created 315,000 jobs in August, in line with expectations but a notable downshift from July, the Labor Department reported on Friday

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The number compares to the revised 526,000 created in July

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which was more than twice what had been forecast

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Job gains were strongest in professional and business services, health care and retail trade.

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The unemployment rate edged up to 3.7% from 3.5%.

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The number may foreshadow some slowing of the job market and will be closely scrutinized by the Federal Reserve

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which has vowed to continue raising interest rates until it quashes inflation that is running above 8% a year

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Thanks For Reading

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