The unemployment rate remained unchanged in August near a historic low of 3.9 percent as the U.S. saw another strong month of hiring, the government reported Friday.
The economy added 201,000 jobs, slightly above analysts’ estimates for the month, according to the Bureau of Labor Statistics.
Many analysts were particularly interested in wages – after a long period of lowering unemployment, expectations have been that earnings would soon have to begin growing more robustly. Average hourly earnings were up 2.9 percent over a year ago, the biggest year-over-year growth month since 2009. However, inflation hasn’t been factored into that number, and prices have been going up making employees’ spending power less.
Job gains occurred in professional and business services, health care, wholesale trade, transportation and warehousing, and mining, the Labor Department said.