Non-farm payrolls increased by 1,87,000 jobs last month, the Labour Department said in its closely watched employment report on Friday. The economy needs to create roughly 1,00,000 jobs per month to keep up with the increase in the working age population. Economists polled by Reuters had forecast non-farm payrolls increasing by 1,70,000 jobs last month. Striking Hollywood actors and the bankruptcy of a major trucking company had led economists to anticipate slower job growth in August. Job openings dropped to the lowest level in nearly two-and-a-half years in July, the government reported this week.

Source: The Hindu September 01, 2023 21:32 UTC