U.S. Adds 130,000 Jobs in August, Jobless Rate Holds Steady at 3.7%

The video discusses the creation of 130,000 jobs last month, with 25,000 being temporary census hires. Private sector hiring was 96,000, below the consensus of 150,000. The unemployment rate remains at 3.7%, with increased labor force participation. Black unemployment fell to a record low of 5.5%. The average workweek increased slightly, while manufacturing overtime decreased. Average hourly earnings rose by 0.4% in August, maintaining an annual rate of 3.2%. Retailers lost 11,000 jobs, marking the seventh consecutive month of job cuts. Overall, fewer jobs were created, with notable changes in construction, manufacturing, healthcare, and education sectors. The Fed is likely to dismiss these mixed results.

What was the change in average hourly earnings for August?

What trend was observed in retail jobs over the last seven months?