In August, the number of jobs in the non-farm institutional sector in the United States increased by 22,000. This figure falls significantly short of market expectations.
The U.S. Department of Labor said on the 5th (local time) that the number of jobs in the non-farm institutional sector in the United States increased by 22,000 compared to the previous month. This is significantly lower than the expert forecast compiled by Dow Jones (75,000).
In August, employment in the healthcare (31,000) and social assistance (16,000) institutional sectors maintained job growth. Overall private sector employment was reported to have increased by 38,000.
Federal government employment decreased by 15,000 in August. It reflects the restructuring of the public sector led by the Department of Government Efficiency (DOGE), totaling a decrease of 97,000 so far this year.
The employment increase for June and July was downwardly adjusted by a total of 21,000 compared to previous announcements. June employment was revised from an increase of 27,000 to a decrease of 13,000, and July employment was adjusted up from an increase of 73,000 to an increase of 79,000.
Average hourly wages rose by 0.3% compared to the previous month, aligning with market expectations. Compared to the same period last year, it increased by 3.7%, falling short of market expectations (3.8%).
The unemployment rate aligns with market expectations. It rose from 4.2% in July to 4.3% in August.