Job Growth Fails to Meet Expectations

By Toni Vranjes

September 1, 2017

Payrolls increased by only 156,000 last month, as job creation in the U.S. missed expectations. Meanwhile, the unemployment rate increased slightly, from 4.3 percent to 4.4 percent.

Economists had expected job growth of 180,000 in August, according to a Reuters report.

The areas that added jobs included manufacturing, with employment growth of 36,000; construction, with 28,000 new jobs; and professional and technical services, with 22,000 new jobs.

The news from the previous two months was also downbeat. For June and July combined, employers added 41,000 fewer jobs than earlier reported.

Wage growth was also lackluster. Wages increased just 0.1 percent — the weakest level since November, according to an analysis by economist Rebecca Mitchell of IHS Markit.

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