Written By ESR News Blog Editor Thomas Ahearn
The United States economy added 173,000 jobs in August while the unemployment rate and the number of unemployed persons decreased to 5.1 percent and 8.0 million percent, according to ‘THE EMPLOYMENT SITUATION — AUGUST 2015’ released by the U.S. Department of Labor Bureau of Labor Statistics. The latest jobs report is at http://www.bls.gov/news.release/pdf/empsit.pdf.
The August 2015 jobs report found that employment growth had averaged 247,000 per month over the prior 12 months. Job gains occurred in health care and social assistance, professional and business services, food services and drinking places, and financial activities. Employment in manufacturing and mining declined. Among specific industries:
- Health care and social assistance employment added 56,000 jobs in August. Health care employment increased by 41,000 over the month. Over the year, employment has risen by 457,000 jobs in health care and by 107,000 jobs in social assistance.
- Professional and business services employment continued to trend up in August with 33,000 jobs added and has increased by 641,000 jobs over the year.
- Food services and drinking places employment added 26,000 jobs in August, in line with its average monthly gain of 31,000 over the prior 12 months.
- Financial activities employment increased by 19,000 jobs. Over the year, employment in financial activities has grown by 170,000 jobs.
On the negative site, manufacturing employment decreased by 17,000 jobs while mining employment fell by 9,000 jobs in August. Since reaching a peak in December 2014, mining employment has declined by 90,000 jobs.
Employment in other major industries, including construction, wholesale trade, retail trade, transportation and warehousing, and government, showed little change over the month.
The August jobs report also revised the change in total nonfarm payroll employment for June from 231,000 jobs added to 245,000 jobs added while the change for July was revised from 215,000 jobs added to 245,000 jobs added. With these revisions, employment gains in June and July combined were 44,000 more than previously reported.
The Employment Situation for September is scheduled to be released on October 2, 2015.
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