By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Live Trading NewsLive Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
Reading: US Unemployment Rises
Share
Live Trading NewsLive Trading News
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Search
  • Stocks
  • Forex
  • Gold
  • KNIGHTS
  • Luxury
  • Horse Racing
  • Trade Now
Follow US
© 2024 LiveTradingNews.com - All Rights Reserved.
Live Trading News > Blog > Politics > America > US Unemployment Rises
America

US Unemployment Rises

Shayne Heffernan Ph.D.
Last updated: September 2, 2023 12:14 am
Shayne Heffernan Ph.D.
Share
3 Min Read
80928c36b1596e573f5b43f9fac5d829
SHARE

Hiring in the United States logged a surprise jump last month, government data showed on Friday, but unemployment rose to the highest level since early 2022 as the economy shows signs of cooling.

The world’s biggest economy added 187,000 jobs in August, according to the Labor Department, but wage growth slipped and the jobless rate climbed to 3.8 percent.

The uptick in job gains came as employment figures for June and July were both revised downwards, and the numbers overall signal a steady pace of hiring while the labor market shows signs of easing.

Policymakers have been struggling to lower demand and rein in stubborn inflation, with the Federal Reserve lifting interest rates rapidly — recently bringing them to the highest level in more than two decades.

But the central bank has also vowed to be data-dependent in its upcoming decisions.

Meanwhile, a relatively strong labor market has added to hopes that the United States can bring inflation down without tipping the economy into a recession.

On Friday, Labor Department data showed that average hourly earnings in August rose 0.2 percent, slower than the month before.

While the jobless rate has risen, this came on the back of a 0.2 percentage point increase in the labor force participation rate — after being flat since March.

And the number of “new entrants” among the unemployed, referring to people with no prior work experience, edged up as well, according to Friday’s report.

– ‘Noticeable slowdown’ –

“Payroll employment increased in August, but with the markdowns in the rate of job growth for June and July noted in this report, the cumulative effect is a noticeable slowdown in the job market,” said Mike Fratantoni, chief economist of the Mortgage Bankers Association.

“Job gains are now averaging only 150,000 over the past three months,” he added.

The Labor Department noted that employment continued a trend up in health care, leisure and hospitality, social assistance, and construction.

Employment in transportation and warehousing meanwhile fell.

“A slowing in wage pressures and rising participation are encouraging,” said Rubeela Farooqi, chief US economist at High Frequency Economics.

This confirms “softening in labor market conditions,” which is what Fed officials are looking for as they mull the need for further rate hikes.

Should data points continue to show a slowdown in the economy, they could support the case for a halt in further interest rate increases during the Fed’s September meeting, analysts said.

Shayne Heffernan

You Might Also Like

125 Public Companies Now Hold Bitcoin

Ferrari Hypersail

Banking Apocalypse, Bitcoin’s Just the Beginning

Bitcoin at ATH, What Next?

St. Francis: The Deeds You Do Today

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

Subscribe our newsletter for latest news around the world. Let's stay updated!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Copy Link Print
Share
By Shayne Heffernan Ph.D.
Follow:
Shayne Heffernan Ph.D. Economist at Knightsbridge holds a Ph.D. in Economics and brings with him over 40 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Crypto, Mining, Shipping, Technology and Financial Services.
Previous Article image 1493214467 China’s EV Dominance $BYD $TSLA
Next Article Shayne Heffernan China Belt and Road Forum
Buy Bitcoin

Buy Bitcoin

Latest News

Screenshot 26 6 2025 132527
Tokenization and the Future of Financial Markets
Bitcoin Blockchain DeFI Digital Assets Economy Headline News KXCO Politics USD July 11, 2025
photo 2025 03 03 07 22 06
InfoFi: The Latest Abomination in Crypto
Crypto Featured Headline News Shayne Heffernan on Investments July 10, 2025
czi0oawj8y561
Asia’s Growth Resilience Amid U.S. Tariffs
America Asia Asia Business Featured Headline News KXCO Politics USD July 10, 2025
trump comp 835dbf
What We Know Exists in the Epstein Files
America Headline News Opinion Politics Shayne Heffernan July 8, 2025

Stay Connected

235.3kFollowersLike
69.1kFollowersFollow
11.6kFollowersPin
56.4kFollowersFollow
4.4kFollowersFollow
//

Stay informed with LiveTradingNews.com – your ultimate destination for timely and insightful updates on global markets, finance, and investment trends. Explore the latest news and analysis to empower your trading decisions.

Quick Link

  • About us
  • Advertise
  • Send us a tip!
  • Privacy Policy
  • Contact us

Top Categories

  • Knightsbridge Insights
  • Featured
  • Stocks
  • Shayne Heffernan
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

Subscribe our newsletter for latest news around the world. Let's stay updated!

Live Trading NewsLive Trading News
Follow US
© 2025 LiveTradingNews - For The Traders, By The Traders – All Right Reserved By Knightsbridge Group
Welcome Back!

Sign in to your account

Register Lost your password?