Current:Home > FinanceThe job market continues to expand at a healthy clip as U.S. heads into Labor Day -Wealth Pursuit Network
The job market continues to expand at a healthy clip as U.S. heads into Labor Day
Fastexy Exchange View
Date:2025-04-08 05:39:21
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! (63)
Related
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Transcript: El Paso Mayor Oscar Leeser on Face the Nation, May 14, 2023
- Could de-extincting the dodo help struggling species?
- Chris Martin Reveals the Heartwarming Way Dakota Johnson Influenced His Coldplay Concerts
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- A damaged file may have caused the outage in an FAA system, leading to travel chaos
- A new AI chatbot might do your homework for you. But it's still not an A+ student
- Italy calls a crisis meeting after pasta prices jump 20%
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Ariana Madix’s Next Career Move Revealed After Vanderpump Rules Breakup Drama
Ranking
- Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
- Alix Earle Teases New Romance 3 Months After Tyler Wade Breakup
- A Definitive Ranking of the Most Dramatic Real Housewives Trips Ever
- A damaged file may have caused the outage in an FAA system, leading to travel chaos
- US appeals court rejects Nasdaq’s diversity rules for company boards
- VPR's Raquel Leviss Denies Tom Schwartz Hookup Was a “Cover Up” for Tom Sandoval Affair
- Brie Larson Seemingly Confirms Breakup With Boyfriend Elijah Allan-Blitz
- Twitter bots surfaced during Chinese protests. Who's behind them remains a mystery
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
How Halle Bailey Came Into Her Own While Making The Little Mermaid
In 'Season: A letter to the future,' scrapbooking is your doomsday prep
Willie Mae Thornton was a foremother of rock. These kids carry her legacy forward
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
What we lose if Black Twitter disappears
How Halle Bailey Came Into Her Own While Making The Little Mermaid
A TikTok star who was functionally illiterate finds a community on BookTok