The two latest jobs reports confirm that the U.S. economy remains on solid footing, growing across every sector (including manufacturing) and putting additional pressure on China to come to terms in the tariff war with President Trump.
Wednesday’s jobs report from ADP, one of the country’s largest payroll processors, showed that the U.S. economy added 195,000 jobs in August, with gains across every sector and every company size. And that didn’t include the 17,200 jobs that were added in the franchise sector in August.
Friday’s jobs report from the Bureau of Labor Statistics (BLS) showed that the economy added 130,000 jobs in August. The BLS report added that the unemployment rate remained close to 50-year lows at 3.7 percent, while seasonally-adjusted earnings climbed by 3.2 percent compared to a year ago. It also noted that the “labor participation rate” — the share of Americans either working or seeking employment — increased in August, indicating that the robust and growing economy is drawing in people from the sidelines. Employers asked their workers to stay on the job a little longer as well in August, another indication of a healthy and active economy.
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