The unemployment rate in August was 3.7 percent, just slightly higher than July’s 3.5 percent. The percentage of Americans with a job or actively seeking a job rose to 62.4 percent, up 0.03 percent from July.
The rise in the labor market is causing a reduction in wages and working hours for many, as employers are once again regaining the upper hand.
Average hourly earnings were up 5.2 percent in August, lower than March’s 5.6 percent peak.
Stocks also increased on Sept. 2 after August’s job growth numbers were announced.
Job growth is reaching historical highs as the economy recovers and the labor market continues to hold up.
Inflation is still a concern for federal officials, as interest rates remain high, making it difficult for business owners to borrow and spend money.
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
