The US economy added a solid 315,000 new jobs in August, according to the monthly jobs report from the Bureau of Labor Statistics, in a sign that employers continue to see improving business even as inflation cuts some revenue.
In President Joe Biden’s 19 months in office, the US has seen an increase of 9.7 million jobs, averaging more than 500,000 per month. Data also show that the effects of the coronavirus pandemic on the workforce are easing, with just 6.5% of employed persons teleworking in August, versus 7.1% in July.
The unemployment rate rose from its record low in July of 3.5% to 3.7% in July. Professional and business services added 68,000 jobs while 48,000 jobs were created in healthcare.