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'Oof!': Economists React To August Jobs Report On Twitter

National Economy

Total nonfarm payroll employment rose by 235,000 jobs in August, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell to 5.2% after previously dropping to 5.4% in July.


Job gains were heaviest in professional and business services, led by the architectural and engineering services sector, which added 19,000 jobs in August.

The transportation and warehousing industry added 53,000 jobs in August and is now 22,000 jobs above its pre-pandemic level in February 2020. 

The retail trade industry lost 29,000 jobs in August, and the industry now has 285,000 fewer jobs than it did in February 2020. Employment figures in leisure and hospitality were unchanged in August after adding, on average, 350,000 jobs per month over the previous six months. 

Construction employment also showed little change in August. 

The U.S. economy has now added 17 million jobs since April 2020, but it is still down 5.3 million jobs from February 2020.

Here's how economists and others reacted to the August jobs report on Twitter.