We teased this yesterday with data from the ADP National Employment Report. August was an excellent month for workers. Today the Dept of Labor has confirmed that.
Related: U.S. private employers’ payrolls grew at the fastest pace in four months in August
The number of people employed in the United States hit a record 157,878,000 in August, the 21st record set under President Donald Trump, according to the employment report released today by the Bureau of Labor Statistics.
That’s an increase of 590,000 from the record 157,228,000 employed in July.
The National unemployment rate is steady at 3.7 percent. Employment for black Americans hit another record low at 5.5 percent, and Hispanic unemployment at 4.2% tied the record set in April.
Additionally, also noted yesterday,
Wage growth has accelerated and become increasingly broad-based in recent years, with low-wage earners experiencing particularly robust gains in their hourly wages. In CBO’s projections, wage growth picks up further before slowing in 2021.
Strong numbers heading into the autumn and holiday hiring.
