Current:Home > StocksThe job market continues to expand at a healthy clip as U.S. heads into Labor Day -Nova Finance Academy
The job market continues to expand at a healthy clip as U.S. heads into Labor Day
View
Date:2025-04-18 22:58:57
The jobs market is holding steady as the country heads into the Labor Day weekend.
Employers added 187,000 jobs last month, marking a modest pickup from the previous month, the Labor Department said on Friday, with health care, hospitality, and construction among the sectors that added the most jobs.
Trucking, however, showed a loss of jobs, due to the shutdown of the Yellow trucking company. Employment in movie production was also down as a result of the writers' and actors' strikes..
The unemployment rate rose in August to 3.8 percent, though that was mainly because more than 700,000 new people joined or re-joined the workforce.
Meanwhile, job gains for June and July were revised down by a total of 110,000 jobs.
The labor market has shown gradual cooling in recent month, but workers are still in strong demand.
Average wages over the last year are up 4.3%, outpacing inflation.
The data comes ahead of the Federal Reserve's next policy meeting later this month.
The Fed has been raising interest rates aggressively in order to cool down inflation and Fed Chair Jerome Powell has said policy makers are ready to raise them more if needed.
veryGood! (98556)
Related
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Redbox owner Chicken Soup for the Soul files for Chapter 11 bankruptcy protection
- TV personality Carlos Watson testifies in his trial over collapse of startup Ozy Media
- Beyoncé congratulates daughter Blue Ivy for winning BET YoungStars Award
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Simone Biles will return to the Olympics. Here’s who else made the USA Women’s Gymnastics team
- Pat Tillman's Mom Slams ESPYs for Honoring Divisive Prince Harry in Her Son's Name
- House Republicans sue Attorney General Garland over access to Biden special counsel interview audio
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- Yes, pistachios are high in calories, but that doesn't mean they aren't good for you
Ranking
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Utah fire captain dies in whitewater rafting accident at Dinosaur National Monument
- See Travis Kelce Celebrate Taylor Swift Backstage at the Eras Tour in Dublin
- Illegal crossings at U.S.-Mexico border fall to 3-year low, the lowest level under Biden
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- TV personality Carlos Watson testifies in his trial over collapse of startup Ozy Media
- Hurricane Beryl makes landfall as extremely dangerous Category 4 storm lashing Caribbean islands
- Police officer fatally shoots man at homeless shelter in northwest Minnesota city of Crookston
Recommendation
The 401(k) millionaires club keeps growing. We'll tell you how to join.
Sotomayor’s dissent: A president should not be a ‘king above the law’
Hurricane Beryl makes landfall as extremely dangerous Category 4 storm lashing Caribbean islands
The Karen Read murder case ends in a mistrial. Prosecutors say they will try again
Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
TV personality Carlos Watson testifies in his trial over collapse of startup Ozy Media
Yes, Bronny James is benefiting from nepotism. So what?
Oklahoma, Texas officially join SEC: The goals are the same but the league name has changed