Current:Home > InvestThe job market continues to expand at a healthy clip as U.S. heads into Labor Day-DB Wealth Institute B2 Expert Reviews
The job market continues to expand at a healthy clip as U.S. heads into Labor Day
View Date:2024-12-23 15:02:58
The jobs market is holding steady as the country heads into the Labor Day weekend.
Employers added 187,000 jobs last month, marking a modest pickup from the previous month, the Labor Department said on Friday, with health care, hospitality, and construction among the sectors that added the most jobs.
Trucking, however, showed a loss of jobs, due to the shutdown of the Yellow trucking company. Employment in movie production was also down as a result of the writers' and actors' strikes..
The unemployment rate rose in August to 3.8 percent, though that was mainly because more than 700,000 new people joined or re-joined the workforce.
Meanwhile, job gains for June and July were revised down by a total of 110,000 jobs.
The labor market has shown gradual cooling in recent month, but workers are still in strong demand.
Average wages over the last year are up 4.3%, outpacing inflation.
The data comes ahead of the Federal Reserve's next policy meeting later this month.
The Fed has been raising interest rates aggressively in order to cool down inflation and Fed Chair Jerome Powell has said policy makers are ready to raise them more if needed.
veryGood! (91643)
Related
- Driver dies after crashing on hurricane-damaged highway in North Carolina
- Oops! I called my boss 'dude.' Career coaches weigh in on tricky workplace dilemmas
- Another Nipah outbreak in India: What do we know about this virus and how to stop it?
- Alaska lawmaker’s husband was flying meat from hunting camp when crash occurred, authorities say
- Early Black Friday Deals: 70% Off Apple, Dyson, Tarte, Barefoot Dreams, Le Creuset & More + Free Shipping
- Philadelphia native and Eagles RB D'Andre Swift has career game vs. Vikings
- Republican presidential hopefuls generally overlook New Hampshire in effort to blunt Trump in Iowa
- 3 men found not guilty in Michigan Gov. Whitmer kidnapping plot. Who are they?
- 13 escaped monkeys still on the loose in South Carolina after 30 were recaptured
- Aaron Rodgers' season-ending injury reignites NFL players' furor over turf
Ranking
- Michigan soldier’s daughter finally took a long look at his 250 WWII letters
- A Georgia state senator indicted with Trump won’t be suspended from office while the case is ongoing
- Climate change could bring more storms like Hurricane Lee to New England
- One American, two Russians ride Russian capsule to the International Space Station
- NBA today: Injuries pile up, Mavericks are on a skid, Nuggets return to form
- Latino voters want Biden to take more aggressive action on immigration, polls find
- Family sues police after man was fatally shot by officers responding to wrong house
- Kansas cancels its fall turkey hunting season amid declining populations in pockets of the US
Recommendation
-
Prosecutor failed to show that Musk’s $1M-a-day sweepstakes was an illegal lottery, judge says
-
Lil Guy, a Florida alligator missing his top jaw, rescued after finding online fame
-
Sister of Paul Whelan, American held in Russia, doesn't get requested meeting with Biden
-
Sisters of YouTube mom Ruby Franke speak out about child abuse charges: I had no idea what was happening
-
Republican Vos reelected as Wisconsin Assembly speaker despite losing seats, fights with Trump
-
Lectric recall warns of issues with electric bike company's mechanical brakes
-
Some Florida church leaders blame DeSantis after racist Jacksonville shooting
-
Massachusetts woman indicted on charges that she killed her three children