Surprise hiring spree boosts August’s jobs figures in US
The unemployment rate held steady at an already-low 3.9% and wage gains gained ground on inflation
Washington — Hiring surged in the US in August and employers increased wages by the most in nearly a decade, as the jobs markets showed no sign of slowing, the government reported on Friday. The unexpected hiring spree, which saw jobs sprout up in construction, transportation, wholesale trade, finance and healthcare, was a shot in the arm for US President Donald Trump, who was beset this week by reports that his staff had actively sought to undermine him. The US economy added 201,000 new jobs, well above analysts’ expectations, while the unemployment rate held steady at an already-low 3.9% and wage gains gained ground on inflation. Ahead of crucial elections in November, the White House — which has been at pains this week to counter reports of flagging wage growth — will surely also welcome news that average worker pay grew 2.9% compared to August 2017, the biggest increase since June 2009 and in line with consumer inflation.
But the strong gain in pay will also solidify expec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.