- 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.
Source: Helios Quantitative Research, Bloomberg, Bureau of Labor Statistics, Department of Labor