President Trump’s Labor Department touted a huge economic success, Friday. The market added huge numbers of jobs in August, as wages also rose.
USA Today reports:
Hiring rebounded in August as employers added 201,000 jobs and the labor market continued to defy worker shortages and U.S. trade battles. Yearly wage growth hit a nine-year high.
The unemployment rate was unchanged at 3.9 percent, the Labor Department said Friday.
Economists surveyed by Bloomberg expected 195,000 payroll gains.
On the downside, employment increases for June and July were revised down by a total 50,000. June’s gain was lowered from 248,000 to 208,000 and July’s from 157,000 to 147,000. Still, monthly gains for the year are averaging a robust 207,000.
“The U.S. economy is barreling full steam ahead,” economist Leslie Preston of TD economics wrote in a note to clients.
The economy continues to post historic numbers.