Economics
US Employers Add 315,000 Jobs as More Workers Join Labor Force
- Participation jumped in August, leading to higher unemployment
- Data offer mixed implications for Fed ahead of policy meeting
This article is for subscribers only.
US employers added a healthy number of jobs in August and a steady stream of people entering the workforce lifted the unemployment rate, suggesting some easing in the tight labor market and offering mixed implications for the Federal Reserve.
Nonfarm payrolls increased 315,000 last month following a revised 526,000 advance in July, a Labor Department report showed Friday. The unemployment rate unexpectedly rose to a six-month high of 3.7%, the first increase since January, as the participation rate climbed.