US Economy Adds 201,000 Jobs In August, Outpaces Expectations
The U.S. economy added 201,000 jobs in August, outpacing experts expectations by 9,000, according to Friday’s jobs numbers from the Bureau of Labor Statistics.
“What’s worth noting is that even though there still remains a lot of headline noise around politics and protectionism, underneath that, the U.S. economy — and that includes labor markets — is doing quite fine,” Barclays chief U.S. economist Michael Gapen told The New York Times.
The August jobs report was released the day after new jobless claims fell to a nearly five decade low. (RELATED: The Number of People On Unemployment Welfare Is At A 50-Year Low)
Roughly 203,000 people filed to receive unemployment welfare last week. In the week ending on Dec. 6, 1969, 202,000 people made an initial claim for unemployment, according to a Thursday report from the Department of Labor (DOL).
The four-week moving average for the number of claims – a less volatile and more reliable metric – hit 209,500, also the lowest average since 1969.
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