Payroll employment rose by 187,000 in August
9/1/2023, 2:09:19 PM
According to the Bureau of Labor Statistics, payroll employment rose by 187,000 in August, slightly higher than the expected 170,000; however, significantly below August 2022's 393,000 new jobs. Still, 3.1 million new jobs were created in the last 12 months. However, the unemployment rate rose to 3.8%, which is a very low rate, as only 11% of times since 1950, the unemployment rate was lower than this. So, technically, the unemployment rate is still in the range considered full employment.