August Employment Report

Not because I’m thinking much about it today, but because I feel like I should at least mention it: the August employment report was released by the BLS this morning.

From the report:

Nonfarm payroll employment increased by 169,000 in August, and the unemployment rate was little changed at 4.9 percent, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. Employment rose over the month in several industries, including construction, health care, and accommodations and food services. Manufacturing employment edged down in August.

In general, it seems that this report was consistent with what we’ve gotten used to lately: moderate, rather than robust, job growth; stagnant or very slightly rising hourly pay and hours worked; and a stubbornly slow rise in labor force participation, which remains at relatively low levels.