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'Soft Landingish': Economists React To The August Jobs Report On Twitter

National Economy

Nonfarm payroll employment rose by 315,000 jobs in August, the U.S. Bureau of Labor Statistics reported Friday.

The unemployment rate is now at 3.7%, up from 3.5% in July, which was the lowest unemployment rate in over half a century. 

Nonfarm employment has now risen by 5.8 million jobs over the past 12 months.

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Notable job gains were seen in the healthcare industry, which added 48,000 jobs in August. The healthcare industry has now added 412,000 jobs this year, and sits just 37,000 jobs short of its February 2020 level.

Similarly, employment in retail trade grew by 44,000 jobs in August and has now added 422,000 jobs over the past 12 months.

Leisure and hospitality added 31,000 jobs in August. The industry has averaged monthly gains of 90,000 jobs over the first seven months of 2022, but remains 1.2 million jobs below its February 2020 level. 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Related Topics: jobs, Jobs Report, August jobs report