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Unemployment Rate Climbs to 3.8% Due to Increased Labor Participation

 
 

  • The latest US jobs data indicated a controlled cooling of the labor market with solid hiring, slower earnings growth, and increased labor participation.
  • In August, the unemployment rate rose 3.8%, the highest since February 2022. Employers added 187,000 jobs, showing broad-based growth, though June and July payroll gains were revised lower by 110,000 jobs.
  • Americans are feeling less optimistic about the job market despite firm hiring and incomes, as job openings decline and layoffs increase.
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Source: Helios Quantitative Research, Bloomberg, Bureau of Labor Statistics, Department of Labor