The U.S. economy has seen job growth stagnate the past couple of months, leading experts to predict an anemic August jobs report. However, the jobs report delivered far better than expected, with 162,000 new jobs being created in July, Unemployment held steady at 4.1%. In addition to this news, another report revealed unemployment among the college-less is at an all-time low.
Jobs report live updates: US adds 162,000 jobs in August, blowing past estimates – msn.com
EXCERPT:
The August jobs report showed that hiring surged last month.
The US added 162,000 jobs last month, the Labor Department reported on Friday. Economists expected the US to have added 55,000 jobs last month, rebounding from an unexpected decline in jobs in July. The unemployment rate remained unchanged at 4.1%.
While inflation remains the central question of the day, Friday’s jobs report informs the Federal Reserve’s decision whether to hike interest rates or hold them steady later this month.
The August jobs report follows a string of indicators on US employment trends this week. Here’s a recap of what we learned in recent days about the “low hire, low fire” economy:
-
Hiring remained steady, according to the Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS). The US added 7.3 million new job openings in July, which was little changed from the previous month.
-
Private employers added 38,000 jobs in August, below economists’ expectations for 47,000 new roles, according to payroll processor ADP. The healthcare sector accounted for the bulk of new jobs added, while manufacturing and professional services saw declines.
-
US companies announced fewer layoff plans in August, according to outplacement firm Challenger, Gray & Christmas. The firm recorded 53,000 layoff plans last month, making it the slowest August for layoffs since 2022.
-
Initial jobless claims ticked up slightly to 206,000, according to the Bureau of Labor Statistics, coming in above economists’ expectations of 205,000.
Report: Unemployment Rate Among Non-College Grads Reaches One of Lowest Points in Past 23 Years– www.breitbart.com
News Source
EXCERPT:
Younger workers who are not college graduates are seeing one of their lowest unemployment rates in recent history, according to a Burning Glass Institute analysis reported by the Wall Street Journal.
The Wall Street Journal reported Sunday night that the analysis shows an extremely strong job market for those between 22 and 34 years of age without diplomas from a higher education institution.
The historically low unemployment rate among this demographic, which rivals lows since 2003, breaks with the rates of unemployment among college-educated peers in the same age window, per the analysis:
Now, though, just as job hunters without degrees are having one of their best runs, those with college educations are having one of their worst. And those with advanced degrees or in fields such as science and technology are having an even harder time
