The report released by the US Bureau of Labor Statistics just moments ago showed that the US economy added only 22,000 jobs in August, compared to 73,000 in July, which was revised upward to 79,000, falling short of market expectations of 75,000 jobs.
Conversely, the unemployment rate rose 0.01% in August to 4.3%, compared to 4.2% in July, matching expectations, while the labor force participation rate rose to 62.3% from 62.3% in July.
Hourly wages stabilized in August at a monthly rate of 0.3%, matching expectations, while they declined on an annual basis to 3.7%, compared to 3.9% in July, while expectations were for a stable 3.9%.
In sector details, the goods-producing sector lost approximately 25,000 jobs, the manufacturing sector lost 12,000 jobs, and the construction sector lost 7,000 jobs. Meanwhile, the services sector added 63,000 jobs in August, and the healthcare and social services sector added 46,000 jobs, including 31,000 jobs in the healthcare sector, which is less than the average monthly increase of 42,000 jobs over the past 12 months.