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Unemployment Rate

Total nonfarm payroll employment increased by 315,000 in August, and the unemployment rate rose to 3.7%.

Real Earnings

Us Import And Export

Prices for US imports declined 1% in August following a 1.5% decrease in July. Lower fuel and non-fuel prices in August contributed to the decline in US import prices. The country’s export prices fell 1.6% in August, after declining 3.7% the previous month.

Source: U.S. Bureau

State Employment Summary

Unemployment rates were higher in August in 16 states and stable in 34 states and the District of Columbia,according to the U.S. Bureau of Labor Statistics. All 50 states and the District had jobless rate decreases from a year earlier. The national unemployment rate rose to 3.7% over the month but was 1.5 percentage points lower than in August 2021. Nonfarm payroll employment increased in 10 states, decreased in 1 state, and was essentially unchanged in 39 states and the District of Columbia in August 2022. Over the year, nonfarm payroll employment increased in 46 states and the District and was essentially unchanged in four states.

Real average hourly earnings for all employees on private nonfarm payrolls decreased 2.8% from August 2021 to August 2022. The change in real average hourly earnings combined with a decrease of 0.6% in the average workweek resulted in a 3.4% decrease in real average weekly earnings over this period. Source: