The U.S. produced 156,000 new jobs in August, below Wall Street’s forecasts but still enough to keep a growing economy on an even keel.
Economists polled by MarketWatch had predicted a 170,000 increase in nonfarm jobs. The unemployment rate rose to 4.4% from 4.3%. Wages increased by 3 cents to an average of $26.39 an hour, the government said Friday.
Hourly pay increased 2.5% from August 2016 to August 2017, unchanged from the prior month. The average workweek dipped 0.1 hour to 34.4 hours.
The government cut its estimate of new jobs created in July to 189,000 from 209,000. June’s gain was trimmed to 210,000 from 231,000.