But the solid 201,000 job gain for August was almost equal to the average gain of 196,000 over the prior 12 months, evidence of how steady job growth remains. They increased payrolls by 18,000 jobs in July. But the last time unemployment was this low in the dot-com boom, wage growth was significantly faster - well above 3.5 percent.
Non-farm payrolls surged by 201,000 jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services, the Labour Department said yesterday.
Jason Mazzarone, chief executive of SoBol, a restaurant chain that sells a variety of acai bowls, says he is paying workers more, mostly because of higher minimum wage laws in NY and other states where his 26-store chain operates.
Inside Friday's report, manufacturing payrolls were a bit of a disappointment, dropping by 3,000 after having been solid in both June and July.
Here are the highlights of the three most closely-watched components of the report: payrolls, wages and unemployment. Employment increased 6,000 in mining.
The U.S.jobs market is humming along, with hiring picking up in August and paychecks growing whole the unemployment rate held steady. And so wages were up 2.9 percent from a year earlier, up from 2.7% in July and the biggest annual jump since June 2009. The latest figure reflects a decrease of 46 000 unemployed people in August and a 423 000 drop in the number of people with jobs.
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A spokesperson for Twitter declined to comment, but in past hearings Twitter officials have affirmed the gravity of the situation. The social media execs are facing questions about political intrusion, antitrust concerns, censorship and consumer privacy.
Construction companies hired 23,000 more workers last month after increasing payrolls by 18,000 jobs in July. In recent years, Labor has revised up its initial estimates for August, often significantly.
US businesses added 204,000 jobs while federal, state and local governments lost 3,000.
"Unemployment was unchanged in August, but the monthly data are very erratic and the trend is still falling". The tight labor market is providing more opportunities to blacks and other disadvantaged groups that traditionally have had a tougher time landing jobs.
A broader measure of unemployment, which includes people who want to work but have given up searching and those working part-time because they can not find full-time employment, fell one-tenth of a percentage point to 7.4 percent in August, the lowest level since April 2001.
Still, 6.2 million people were counted among those unsuccessfully looking for work in August.
US job growth accelerated in August and wages notched their largest annual increase in more than nine years, strengthening views that the economy was so far weathering the Trump administration's escalating trade war with China.