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Published: Friday, September 06, 2019 @ 8:58 AM
— The U.S. economy continued to produce more job growth in the month of August, as the Labor Department reported Friday that U.S. businesses had created 130,000 jobs last month, though that was down from the 164,000 added in July.
Overall, job growth has averaged 158,000 per month so far this year, which is down from the average monthly gain of 223,000 in 2018.
One of the more encouraging numbers in the jobs report was that "average hourly earnings for all employees on private nonfarm payrolls rose by 11 cents to $28.11, following 9-cent gains in both June and July."
The US added 130,000 net new jobs in August 2019 with the unemployment rate remaining unchanged at 3.7 percent. Average hourly earnings were up 11 cents to $28.11 per hour & have risen 3.2 percent in the prior 12-months.@BLS_gov— Ted C. Jones (@DrTCJ) September 6, 2019
The 130,000 jobs figure for August came during a month in which President Donald Trump openly feuded with Chinese leaders about trade, as a new round of 15 percent tariffs went into effect on September 1.
While the jobless rate nationally remained at 3.7 percent, the U6 rate - considered the broadest measure of joblessness ticked up to 7.2 percent in August.
But like the overall jobless rate, the U6 figure is at very low levels, not seen since 2000.
One reason the jobs number was as high as it was in August was because of the government - 25,000 workers were hired by the feds to get ready for the 2020 Census.