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Unemployment rate unexpectedly rises to 3.8% in August: What's going on?
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๐Ÿ’กSummary: โ€ขNonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent. โ€ขUnemployment rates for Show More
๐Ÿ’กSummary:
โ€ขNonfarm payroll employment increased by 187,000 in August, and the unemployment rate rose to 3.8 percent.
โ€ขUnemployment rates for adult men (3.7 percent), Whites (3.4 percent), and Asians (3.1 percent) rose in August.

US stocks opened higher after employment dated showed inflation may have peaked. Non-farm payrolls and unemployment for August came in above expectations of 170k, and 3.5%. Both June and July nonfarm payroll numbers were adjusted downwards, signaling interest rates might have finally begun cooling the job market, Bloomberg reported.

By industry, healthcare added the most: 71,000 jobs. Employment in leisure hospitality rose by 40,000 jobs, about 1.7% below pre-pandemic levels, and the 12-month average of 61,000, the BLS said. Construction employment added 22,000 jobs.
Source: Bloomberg

๐ŸŽ™๏ธQ:
1. How does a strong labor market affect your portfolio?
2. Are you expecting inflation to ramp up before 2024?

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