August Jobs Report
Falls Below Expectations.
According to the
U.S. Labor Department,
130,000 positions were
added last month.
A large portion of those positions was
the hiring of census workers, which is
considered a temporary role.
These numbers fall short of the 150,000 jobs
that had been predicted by Wall Street.
More than 27,000 jobs were lost in sectors
such as retail, mining, transportation and trade.
This decline in added jobs is stoking
the already present fear that the
U.S. may be headed for a recession.
Besides the trade war with China, areas like
agriculture and manufacturing are struggling.
Compared to last year, monthly job
growth in America has also slowed.
Following revisions, the U.S.
is now averaging 158,000
added roles a month.
In 2018, it was around
223,000 per month.
The U.S. unemployment rate is still
3.7 percent, with average hourly earnings
experiencing a jump of 0.4 percent