BUSINESS US economy adds 201,000 jobs as unemployment rate holds at 3.9%: agencies

BUSINESS

US economy adds 201,000 jobs as unemployment rate holds at 3.9%: agencies

People's Daily app

21:20, September 07, 2018

US adds jobs for 95 months in a row with initial jobless claims dropped to the lowest level last week since December 6, 1969.

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Men work on a construction site in Washington, DC on December 8, 2017. (File photo: VCG)

But rate appears to slow and wage growth continues to lag. Wages grew 2.9 percent compared with a year ago, the strongest rate since 2009. 

However, that number is not adjusted for inflation, which has been rising in recent months and eating into workers' paychecks.

The job gains for August are roughly in line with the average for the year.

Nonfarm payrolls surged by 201,000 jobs last month, boosted by hiring at construction sites, wholesalers and professional and business services, the Labor Department said on September 7. 

The unemployment rate was unchanged from July at 3.9 percent.

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