U.S. Added 187,000 Jobs in August and Unemployment Rose to 3.8%
In August, employers added 187,000 jobs, but the unemployment rate increased to 3.8% as the economy's post-pandemic lockdown momentum began to slow down.
The labor market in the United States is beginning to resemble its pre-pandemic state.
The Federal Reserve's hikes in interest rates have dampened investment, soaring sectors have come back down to ground, and employees are opting to remain in their current positions instead of seeking higher salaries.