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The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong.
The U.S. Department of Labor said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%. Payrolls growth was driven by health care and social assistance, which added more than 97,000 jobs. The category would have grown by more than 100,000 when including private education, as some economists do.
Leisure and hospitality also added another 40,000 jobs.
“Leisure and hospitality still remains well below pre-pandemic levels of employment, and well below pre-pandemic trends in…
Source cnbc.com
