(Finance) – Non-farm payrolls grew more than expected in August 2022. According to data provided by the Bureau of Labor Statistics, the unemployment rate rose to 3.7% compared to 3.5% the previous month and consensus estimates. The labor force participation rate rose to 62.4% from 62.1% prior to and to 63.4% prior to the pandemic period.
315,000 jobs were added in the non-farm payrolls sectors, after 526,000 payrolls had been created in July (revised figure from 528,000). The data on employed, more observed than the unemployment rate, is slightly higher than market expectations which indicated an increase of 300,000 jobs.
The data is in line with expectations in the private sector: 300,000 jobs were added, compared with 477,000 revised in July.
The employed in the manufacturing sector they rose by 22 thousand units, above the consensus of 20 thousand, and are compared with the 36 thousand of the previous month.
The average hourly wages stood at $ 34.5, registering an increase of 0.3% on the month and 5.2% on the year (against expectations for +0.4 m / m and + 5.3% yoy) after the + 0.5% monthly and + 5.2% trend recorded in July. Average hourly wages are carefully monitored by the Federal Reserve as a good indicator of both the health of the labor market and inflationary pressures.
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