City
Epaper

Unemployment rate in US decreases to 4.2 pc in August against 4.3 pc in July

By ANI | Updated: September 6, 2024 20:10 IST

Washington [US], September 6 : Total nonfarm payroll employment in the US increased by 142,000 in August, and the ...

Open in App

Washington [US], September 6 : Total nonfarm payroll employment in the US increased by 142,000 in August, and the unemployment rate changed a little to 4.2 per cent, the US Bureau of Labor Statistics reported on Friday. In July, the unemployment rate was 4.3 per cent.

Job gains during August have occurred in construction and health care, data showed.

Employment growth in August was in line with average job growth in recent months but was below the average monthly gain of 202,000 over the prior 12 months, the labour bureau said in a statement.

Both the unemployment rate, at 4.2 per cent, and the number of unemployed people, at 7.1 million, changed little in August.

These measures are higher than a year earlier, when the jobless rate was 3.8 per cent, and the number of unemployed people was 6.3 million, the US Bureau of Labor Statistics said.

Among the major worker groups, the unemployment rates for adult men (4.0 percent), adult women (3.7 per cent), teenagers (14.1 per cent), Whites (3.8 per cent), Blacks (6.1 per cent), Asians (4.1 per cent), and Hispanics (5.5 per cent) showed little or no change in August.

Among the unemployed, the number of people on temporary layoff declined by 190,000 to 872,000 in August, mostly offsetting an increase in the prior month. The number of permanent job losers was essentially unchanged at 1.7 million in August.

The number of long-term unemployed (those jobless for 27 weeks or more) was virtually unchanged at 1.5 million in August. The long-term unemployed accounted for 21.3 per cent of all unemployed people.

The labour force participation rate remained at 62.7 per cent in August and has little changed over the year.

The number of people not in the labour force who currently want a job, at 5.6 million, changed little in August.

"These individuals were not counted as unemployed because they were not actively looking for work during the 4 weeks preceding the survey or were unavailable to take a job," the labour bureau said.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

TechnologySensex, Nifty trade flat in early deals amid weak global cues

BusinessSensex, Nifty trade flat in early deals amid weak global cues

NationalDelhi’s air quality shows marginal improvement with strong winds; AQI 'very poor'

TechnologyIndian Railways using 898 MW solar power at 2,626 stations: Govt

Other SportsAshes: 'Vestibular issue' forces Smith out of Adelaide Test 20 minutes before toss

Business Realted Stories

BusinessIndian Railways using 898 MW solar power at 2,626 stations: Govt

BusinessPM EDRIVE achieves 3.4x higher annual EV growth than FAME II: Report

BusinessNumber of S. Korean firms with financial distress down in 2025

BusinessTN's Thoothukudi Salt, Authoor Poovan Banana, Villiseri Lemon seek GI tag

BusinessCorporate growth, profitability improve in Q3 in S. Korea: BOK