The pace of U.S. job growth slowed in August while the unemployment rate edged up, the Labor Department reported on Friday.
The total nonfarm payroll employment increased by 156,000 in August, below market expectations of 180,000, and the unemployment rate ticked up 0.1 percent to 4.4 percent, the Labor Department said.
Meanwhile, employment gains for June was revised down to 210,000 from 231,000 previously reported, and job gains in July was revised lower to 189,000 from 209,000.
In August, the average hourly earnings rose by 3 cents to 26.39 U.S. dollars, after rising by 9 cents in the previous month. Over the past 12 months, average hourly earnings have risen by 2.5 percent, the same growth as in July.
While job growth slightly slowed last month, the overall labor market recovery remains solid so far this year. The August job report is unlikely to deter the Federal Reserve from announcing the start of unwinding its balance sheet this month, analysts said.
The Fed will hold its next policy meeting on Sept. 19-20. Most economists expect the Fed to begin shrinking its balance sheet in September, with a further rate hike in December, according to the latest survey conducted by the Wall Street Journal.
The total nonfarm payroll employment increased by 156,000 in August, below market expectations of 180,000, and the unemployment rate ticked up 0.1 percent to 4.4 percent, the Labor Department said.
Meanwhile, employment gains for June was revised down to 210,000 from 231,000 previously reported, and job gains in July was revised lower to 189,000 from 209,000.
In August, the average hourly earnings rose by 3 cents to 26.39 U.S. dollars, after rising by 9 cents in the previous month. Over the past 12 months, average hourly earnings have risen by 2.5 percent, the same growth as in July.
While job growth slightly slowed last month, the overall labor market recovery remains solid so far this year. The August job report is unlikely to deter the Federal Reserve from announcing the start of unwinding its balance sheet this month, analysts said.
The Fed will hold its next policy meeting on Sept. 19-20. Most economists expect the Fed to begin shrinking its balance sheet in September, with a further rate hike in December, according to the latest survey conducted by the Wall Street Journal.
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