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Thursday, Oct 19th

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You are here News Economy US job growth slows to 156K; unemployment up to 4.4 pct.

US job growth slows to 156K; unemployment up to 4.4 pct.

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Jobs downU.S. job growth slowed in August as employers added 156,000 jobs, though still enough to suggest that most businesses remain confident in an economy now in its ninth year of recovery from the Great Recession.

The unemployment rate ticked up from 4.3 percent to a still-low 4.4 percent, the Labor Department said Friday. The government also revised down its estimate of job growth in June and July by a combined 41,000, leaving an average monthly gain this year of a solid 176,000.

Taken as a whole, Friday's jobs report pointed to an economy that is still steadily generating jobs, though at a less brisk pace than it did earlier in the recovery from the recession. With fewer people looking for work, fewer jobs are being filled.

In addition, monthly jobs reports can be volatile — especially figures for August, when employers are gearing up for the start of fall and the government can't always precisely factor the changes into its employment data.

"It's more noise than signal," Joe Brusuelas, chief economist at tax consultant RSM, said of Friday's report. "Focus on the longer-term trend of growth in employment."

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