All articles tagged with #us unemployment rate
The US unemployment rate is expected to increase from 3.9% to 4% in November, signaling early signs of a recession. However, there may be a temporary rebound in employment growth due to the resolution of two major strikes, according to Bloomberg economists. The data will be released in a monthly report by the Bureau of Labor Statistics.
The US unemployment rate rose to 3.8% in August, while wage gains moderated, indicating a slowdown in the labor market and reinforcing expectations that the Federal Reserve will not raise interest rates this month. Nonfarm payrolls increased by 187,000 jobs, down from the monthly average of 271,000 over the past year. The economy needs to create around 100,000 jobs per month to keep up with population growth. Despite the overall slowdown, certain sectors like healthcare and hospitality continue to experience labor shortages. Wage growth slowed, with average hourly earnings rising 0.2% in August. The labor force participation rate increased to 62.8%, the highest level since February 2020.