The economy created 22,000 new jobs, although the unemployment rate rose slightly
These figures fuel expectations of an interest rate cut
The unemployment rate rose slightly in August
The economy created fewer jobs than expected in August, and the unemployment rate stood at 4.3%, up 0.1 points from July.
Specifically, 22,000 jobs were created, the Department of Labor said Friday, per AFP. In July, 79,000 jobs were added.
In the seventh month of the year, the unemployment rate stood at 4.2%, up from 4.1% in June.
The positive figure was the increase in the average hourly wage, which rose by 0.3% compared to July and by 3.7% compared to August 2024.
This data fuels expectations of an interest rate cut by the Federal Reserve (Fed), something President Donald Trump has been calling for in recent months.
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