He working market in the US experienced a significant increase in augustwith the creation of 187,000 new jobssurpassing the consensus expectations which projected 170,000 and surpassed the 157,000 registered in July, according to the report published by the US Bureau of Labor Statistics. Regarding the unemployment rate, increased to 3.8%compared to the 3.5% of the previous month.
The data revealed this Friday is close to the forecasts of the private consultancy ADP, which estimated 177,000 new jobs, and they place the monthly average of job creation in the last twelve months at 271,000 positions.
In August, several sectors showed continued job growthhighlighting the health, leisure and hospitalityas well as social assistance and construction, while the transport and storage sector experienced a decline in employment.
Employment in the US: sector by sector
Specifically, the health care sector added 71,000 new jobsmaintaining a similar increase to the previous month, with increases in ambulatory medical care services (+40,000), nursing and residential care centers (+17,000) and hospitals (+15,000).
The industry of leisure and hospitality continued to experience an increase in employment during August, with the addition of 40,000 workers, although this increase is below the monthly average of 61,000 jobs over the past year. The industry is still below its pre-pandemic level in February 2020, with a gap of 290,000 jobs, equivalent to 1.7%.
The sector of the social care saw an increase of 26,000 jobs in August, in line with the average monthly gain of 22,000 over the past year. This growth was mainly driven by the employment in individual and family services, with an increase of 21,000 jobs. Meanwhile, the sector of cconstruction maintained its upward trend with 22,000 new jobs in August.
In contrast, the sector of transport and storage experienced a loss of 34,000 jobs in the eighth month of the year, with a significant decrease in trucking (-37,000), largely attributed to the closure of a major company in that sector.
During August, the average hourly earnings of all employees increased by 0.2%, reaching $33.82. In the last 12 months, the average hourly wage has increased by 4.3%. In addition, the labor force participation rate increased by two tenths, reaching 62.8%.
These data are closely watched by the market, so a reaction is expected in the main indexes of Wall Streetwith a possible impact on the stock markets of other countries.
Source: Ambito
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