Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » World
1-min read

US Adds Slower-than-expected 130,000 Jobs in August; Unemployment Rate Steady at 3.7%

The surprisingly weak result confirmed that labour markets in 2019 have softened from their brisk pace last year, raising the prospect that President Donald Trump's record as a job creator could wane as next year's elections approach.

AFP

Updated:September 6, 2019, 6:34 PM IST
facebookTwitterskypewhatsapp
US Adds Slower-than-expected 130,000 Jobs in August; Unemployment Rate Steady at 3.7%
File photo shows 2020 presidential candidate Elizabeth Warren addressing workers at a rally calling for better wages in Virginia. (Reuters)
Loading...

Washington: The US jobs engine cooled last month as hiring slowed across industrial sectors, another sign that the world's largest economy could be weakening, government data showed on Friday.

The surprisingly weak result confirmed that labour markets in 2019 have softened from their brisk pace last year, raising the prospect that President Donald Trump's record as a job creator could wane as next year's elections approach.

Employers added 130,000 net new positions for the month, far lower than analyst forecasts, while the jobless rate held steady at 3.7% and wages rose, according to Labor Department estimates.

Amid weak investment by companies and mounting fears of a recession, employers also say they are struggling to find qualified workers to fill open positions. The soft jobs numbers could also add to pressure on the Federal Reserve to cut interest rates later this month, as economists widely expect it to do.

Within the details, however, there were other causes for concern.

About quarter of August hires came from the government itself as federal authorities prepare to conduct next year's census.

In the dominant service sector, however, the retail, transportation and utilities industries all shed jobs for at least the second month in a row. Workforces also shrank in the mining sector, likely suffering from a drop in oil prices.

Hiring was cut in half in the education and health industries and was flat for auto manufacturers, information services.

Workers, however, got a bump in pay, as hourly wages rose 11 cents on average, putting them up more than three percent, year-on-year, for the 13th month in a row.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results