Unemployment Rises to 3.8% in August

By September 1, 2023Housing
The recent employment data indicates that the labor market is cooling gradually due to rising interest rates. Total employment increased by 187,000 and the unemployment rate rose to 3.8% from 3.5%. Wage growth slowed. In August, wages grew at a 4.3% year-over-year growth rate, down 1.1 percentage points from a 5.4% gain in August 2022. The Bureau of Labor Statistics… Read More ›