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Payrolls in U.S. Rise 156,000; Wages Also Below Forecasts

Bloomberg business news

U.S. Adds 156K Jobs in Aug., Jobless Rate to 4.4%

Updated on

The U.S. economy added fewer employees than expected in August, the jobless rate rose and wages climbed less than forecast, in a break from otherwise solid progress in the labor market.

The report was less positive than others in recent months, with major components either little changed or below estimates. The private service-providing jobs that have driven hiring for most of the year showed a cooling in August, with gains of 95,000 at a five-month low. By comparison, manufacturing and construction were robust. Wage growth was held back by declines in hourly earnings in mining and manufacturing.