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Home Economy

142,000 jobs added in August, unemployment rate edged down to 4.2%

September 6, 2024
Reading Time: 1 min read
Financial services execs see talent acquisition as serious business risk 

Total nonfarm payroll employment rose by 142,000 in August and the unemployment rate edged down to 4.2%, the U.S. Bureau of Labor Statistics reported. Job gains occurred in construction and health care.

Employment continued to grow in construction (+34,000), higher than the average growth over the prior 12 months (+19,000). Health care added 31,000 jobs in August, about half the average monthly gain of 60,000 over the prior 12 months. Employment rose in ambulatory health care services (+24,000) and hospitals (+10,000).

Transportation and warehousing added 14,000 jobs, with gains in couriers and messengers (+11,000) and warehousing and storage (+11,000). These gains were partially offset by a job loss in transit and ground passenger transportation (-11,000).  Employment in social assistance continued its upward trend (+13,000) but at a slower pace than the average monthly gain over the prior 12 months (+21,000). Individual and family services added 18,000 jobs over the month.

Employment in manufacturing edged down in August (-24,000), reflecting a decline of 25,000 in durable goods industries. Manufacturing employment has shown little net change over the year.

Employment showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; information; financial activities; professional and business services; leisure and hospitality; other services; and government.

Read the BLS release.

Tags: Nonfarm jobs
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