The Bureau of Labor Statistics (BLS) reports that U.S. employers expanded payrolls by 142,000 jobs last month, falling short of economists’ expectations of 161,000 jobs.
The August jobs report also notes that the U.S. economy saw 86,000 fewer jobs added than previously reported for June and July combined.
Unemployment rate edges down to 4.2%
The national unemployment rate was 4.2% last month, down slightly from 4.3% in July.
The unemployment rate for college-degreed workers rose to 2.5% in August, up from 2.3% in July. These professionals are the most highly sought-after workers by employers.
Education and health services industry led job growth in August
Employers in education and health services added 47,000 jobs last month. The leisure and hospitality industry saw similar gains, adding 46,000 positions.
The construction and government industries reported notable job growth, as well, with employers adding 34,000 and 24,000 positions, respectively.
Employers in these industries also expanded their payrolls in August:
Financial activities: 11,000 jobs addedProfessional and business services: 8,000 jobs addedTransportation and warehousing: 7,900 jobs addedWholesale trade: 4,900 jobs added
Industries that experienced payroll contraction last month included manufacturing (-24,000 jobs) and retail trade (-11,100 jobs).
