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'Couldn’t Be Much Better': Economists React To The August Jobs Report On X, Formerly Twitter

Nonfarm payroll employment rose by 187,000 jobs in August, a bit higher than consensus estimates, the U.S. Bureau of Labor Statistics reported Friday.

The unemployment rate rose from 3.5% to 3.8%, driven by an increase in labor force participation rates. The unemployment rate had been at or below 3.7% since the end of the first quarter of 2022.


Employment in leisure and hospitality continued to trend upward in August, adding 40,000 jobs. The sector has averaged 61,000 job gains a month over the past year and is now 290,000 jobs short of its pre-pandemic employment rate. 

The construction industry also had a healthy showing in August, adding 22,000 jobs. The sector has averaged growth of 17,000 jobs per month over the prior 12 months.

Job losses were heaviest in the transportation and warehousing sector, which lost 34,000 jobs in August; the Bureau of Labor Statistics attributed the decline to the business closure at Yellow

Here's how economists and others reacted to the jobs report on X, formerly Twitter:















Related Topics: Jobs Report