U.S adds 142,000 jobs; unemployment rate falls 0.1%
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While lower than expected, and below the 212,000 average for each of the last 12 months, U.S. employers added 142,000 jobs in August, according to preliminary data from the government.
Meanwhile, the unemployment rate was little changed, dipping from 6.2 percent to 6.1 percent, the Bureau of Labor Statistics (BLS) said Friday morning, returning to its low point of the year –and equaling the lowest number of the past six years, reported in June.
Job growth for August was seen primarily in the professional and business services (up 47,000) and health care (up 34,000). Over the past year, the professional and business services category has added 639,000 jobs and health care has expanded by 104,000, according to the BLS.
Analysts polled by Yahoo Finance were expecting gains of around 230,000. However, the unemployment rate is in line with expectations.
Other sectors adding jobs were food services and drinking places (up 22,000) and construction (up 20,000 jobs. Meanwhile after adding 28,000 jobs last month, the manufacturing industry was unchanged while retail fell about 8,000 jobs. The BLS said that a majority of the loss in retail came from food and beverage stores (down 17,000).
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