What the US job market data says
Edited By WION Video Desk
Published: Sep 02, 2023, 06:55 IST | Updated: Sep 02, 2023, 06:55 IST
Report on the US labour market in August reveals a mix reality. While job growth defied expectations, the unemployment rate experienced a notable uptick. Nonfarm payrolls exceeded expectations, posting a growth of 187,000 jobs, surpassing the estimated 170,000. However, this apparent success is tempered by a significant increase in the unemployment rate, which reached 3.8%, marking its highest level since February 2022.
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