US Bureau of Statistics Work said Friday that total nonfarm payroll employment rose by 142,000 in August. It is a rebound after a disastrous July, when the number of jobs rose by 114,000. It was the second-worst result this year.
Employment has increased, but there is still a long way to go for optimism
Employment growth was particularly noticeable in construction and healthcare, where 34,000 and 31,000 jobs were added, respectively. However, employment fell most clearly in the manufacturing sector. It was still a small change, by 24,000 jobs.
Employment did increase, but less than expected (analysts expected 160,000) and less than the monthly average for the last twelve months (202,000). Even worse news for Americans is that the Department of Labor revised the number of people employed in June and July by 86,000.
We should also note that the average hourly earnings of all employees in the private sector outside agriculture rose 14 cents, or 0.4 percent, to 35.21 dollarsIn turn, the average workweek of all employees in private companies outside agriculture increased by 0.1 hour to 34.3 hours.
American unemployment remains very high
Unemployment, which Americans are particularly worried about, also slightly improved. It fell from 4.3% in July to 4.2%. There are supposed to be around 7.1 million unemployed people in the United States. The improvement compared to the previous month is actually minimal. However, in the annual perspective, there is a big problem in the American labor market. unemployment in August 2023 was 3.8 percent, and the number of unemployed was then at 6.3 million.
American dollar in response to these data, it is losing 0.31 percent against the złoty. At around 2:50 p.m., it costs 3.84 złoty. Unemployment was at a level consistent with market expectations, which is why the dollar exchange rate did not collapse significantly.