The latest BLS Economic Situation reported that the U.S. economy created 130,000 new jobs in August and payroll wages have increased by 3.2% over the past 12 months. The healthcare sector continues to boost the Jobs Report, contributing 23,900 jobs and accounting for 18% of all job creation last month.
Job gains have averaged 156,000 over the last three months, still above the 100,000 per month needed to keep up with growth in the working age population. The unemployment rate was unchanged at 3.7% for a third month in a row in August as 571,000 people entered the labor force.
The Report suggests that the skilled labor shortage is holding back more robust economic growth.
