U.S. Economy

U.S. Nonfarm Payrolls Up by Just 142K in August

Nonfarm payrolls in the U.S. increased by 142,000 in August, according to a report by the Bureau of Labor Statistics on Friday.

While the number of added jobs was greater than the 144,000 in July, it was below analysts' forecasts. Construction added just 34,000 jobs, followed by healthcare at 31,000.

The unemployment rate fell slightly to 4.2% in August compared to 4.3% in July, with the number of unemployed people at 7.1 million. Average hourly earnings for all employees on private nonfarm payrolls increased by 14 cents or 0.4%. The average workweek increased by 0.1 hours to 34.3 hours.