Professional and business services remain a strong sector, and wages are growing.
The economy continues to grow as it added 201,000 jobs in the month of August and unemployment remained steady at 3.9%. Wages went up 2.9% from August in 2017.
August 2018 is the 95th straight month that the economy has added jobs. Experts predicted 192,000 jobs and a 3.8% unemployment rate.
From The Wall Street Journal:
The share of Americans participating in the labor force fell by 0.2 percentage point to 62.7% in August. The rate is up slightly from a recent low of 62.3% in 2015, but still near the smallest share of adults participating since the late 1970s, a time when women were still entering the workforce in greater numbers.
A broad measure of unemployment and underemployment that includes Americans stuck in part-time jobs or too discouraged to look for work fell to 7.4% from 7.5% the prior month.
Friday’s report showed job gains in the professional and business services sector, along with health care, wholesale trade and transportation. Employment fell in the manufacturing industry, and all levels of government subtracted 3,000 jobs from payrolls last month.
Professional and business services added 53,000 jobs, which brings it one year total to 519,000 jobs.DONATE
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