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Unemployment rate unexpectedly rises to 3.8% in August: What's going on?
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💡Summary: Nonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent. Unemployment rates fo Show More
💡Summary:
Nonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent.
Unemployment rates for adult men (3.7 percent), Whites (3.4 percent), and Asians (3.1 percent) rose in August.

US stocks opened higher after employment dated showed inflation may have peaked. Non-farm payrolls and unemployment for August came in above expectations of 170k, and 3.5%. Both June and July nonfarm payroll numbers were adjusted downwards, signaling interest rates might have finally begun cooling the job market, Bloomberg reported.

By industry, healthcare added the most: 71,000 jobs. Employment in leisure hospitality rose by 40,000 jobs, about 1.7% below pre-pandemic levels, and the 12-month average of 61,000, the BLS said. Construction employment added 22,000 jobs.
Source: Bloomberg

🎙️Q:
1. How does a strong labor market affect your portfolio?
2. Are you expecting inflation to ramp up before 2024?

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