According to the Bureau of Labor Statistics (BLS), employers added 156,000 jobs last month, which is below many analysts’ expectations. And revised numbers from the BLS for June and July show that 41,000 fewer positions were created than previously reported. But the employment market remains robust. Looking at the broader trend, payrolls have expanded by more than 1.4 million jobs since the start of 2017, averaging nearly 176,000 new positions per month.
Among the biggest contributors to last month’s job gains were businesses in the professional and business services sector, which added 40,000 jobs. Manufacturing grew by 36,000 positions. And healthcare continues to expand, adding 20,000 jobs in August.
The overall unemployment rate increased slightly to 4.4 percent in August, up from 4.3 percent in July. The unemployment rate for college-degreed workers who are 25 or older — the most sought-after candidates — held steady at 2.4 percent