The U.S. jobs market continues to cool. Total nonfarm payroll employment in the U.S. increased by 187,000 in August, well below the average monthly gain of 271,000 over the prior 12 months, the U.S. Bureau of Labor Statistics reports.
In addition, the unemployment rate rose to 3.8 percent, up from 0.3 percentage point to 3.8 percent in August, and the number of unemployed persons increased by 514,000 to 6.4 million. Both measures are little different from a year earlier, when the unemployment rate was 3.7 percent and the number of unemployed persons was 6.0 million.
Employment continued to trend up in health care, leisure and hospitality, social assistance and construction, while employment in transportation and warehousing declined. Retail trade and wholesale trade were among the major industries showing little change over the month.
The bureau’s latest statistics also showed the labor force participation rate rose to 62.8 percent in August, the highest it’s been since the onset of the pandemic.
“If sustained, this increase in the labor force could help cool off wage growth and slow inflation,” said Gus Faucher, PNC Financial Services’ Chief Economist, in CNN Business’ coverage of the jobs news and its impact on Wall Street.
Click here for more from the bureau report.
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Exceeding Every Expectation: How Wilkerson Helped d’Original Jewelers Achieve an Outstanding Retirement Sale
When David Rees decided to retire after 34 years of serving Bellevue, Washington’s Eastside, he and his wife knew their exit from d’Original Jewelers needed to honor their decades-long commitment to customers while meeting their financial goals. Since opening in 1990, David had built a reputation as one of the area’s most trusted names for diamonds, custom jewelry, and repairs.
Understanding that a successful retirement sale requires more than just discounting merchandise, David chose Wilkerson to manage his transition. What impressed him most was their attention to detail, particularly in accounting and sales projections. The results far exceeded his expectations — the sale significantly outperformed projections, delivering exceptional financial results that surpassed his retirement goals.
“They were always there for support. If we needed anything, they were able to accomplish that,” David shares. For jewelers contemplating retirement, David’s experience demonstrates Wilkerson’s proven ability to deliver outstanding results while providing comprehensive support throughout the entire process. His recommendation? “100% yes.”
