The August jobs report reveals a labor market that is stable despite a cooling trend, with employers eager to hire against a backdrop of lowered job supply.
Economist Sam Kuhn notes that the current labor market resembles that of 2019 more than the recovering conditions seen in 2010 or 2011, indicating healthy employment overall.
Employers added 142,000 jobs last month, leading to a three-month average of 116,000 jobs, showing a decline from the previous year's pace but maintaining job growth.
Even with the unemployment rate dropping to 4.2% and wages growing, the slow pace of job additions suggests a stabilizing but somewhat tepid recovery in the labor market.
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