The economy added just 130,000 new jobs in August, marking the smallest increase in three months, according to figures released by the Bureau of Labor Statistics this morning. Removing the temporary workers hired for the U.S. Census, the private sector added around 100,000 jobs last month. The headline unemployment rate was unchanged at 3.7 percent.
The federal government added 28,000 jobs last month, mostly temporary workers hired to help prepare the census that takes place every ten years. Professional and business services led the way in hiring by adding 37,00 new jobs; health-care added 24,000, and financial companies 15,000. But retailers and energy companies cut jobs.
One caveat: The government tends to undershoot its August jobs number. With so many people on vacation, the number of respondents to the government’s monthly questionnaire is often the lowest of the year. As more responses are returned, the government usually ends up revising job growth higher.
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