The labor market remains strong with 142,000 jobs added in August
Below, EPI economists offers their insights on the jobs report released this morning, which showed 142,000 jobs added in August.
From EPI senior economist, Elise Gould (@eliselgould):
A slow down in job growth is expected as we approach full employment. By all measures, we are still in a strong labor market, but the Fed needs to lower interest rates to levels consistent with where we are in terms of inflation and trends in key labor market metrics.
— Elise Gould (@eliselgould) September 6, 2024
Nominal wage growth is strong, but remains fully consistent with the Fed’s inflation targets. pic.twitter.com/zXeFOZDuM0
— Elise Gould (@eliselgould) September 6, 2024
From EPI economist, Hilary Wething (@hilweth):
This #Jobs report really highlights why we shouldn’t take any single data point too seriously–instead look at the trend and put estimates in context with multiple measures. For ex: the spike in temp layoffs we saw last month was totally reversed this month! https://t.co/6BWlEtt3Uw
— Hilary Wething (@hilweth) September 6, 2024
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