Disappointing Job Growth: U.S. Adds 142,000 Jobs in August, Previous Months Revised Down, Manufacturing Sector Takes a Hit

 U.S. job growth in August fell short of expectations, signaling a weaker labor market than initially believed. The economy added 142,000 jobs, according to the Labor Department, below economists' forecast of 160,000.

Additionally, job growth for previous months was revised downward. July's estimate dropped from 114,000 to 89,000, and June's figure was revised down by 60,000 to 118,000.

The unemployment rate edged down to 4.2 percent from 4.3 percent in July, while the labor force participation rate remained unchanged at 62.7 percent, where it has hovered for the past year.

On a positive note, average hourly earnings for private nonfarm payroll employees rose by 14 cents, or 0.4 percent, to $35.21. Over the last year, wages increased by 3.8 percent, slightly exceeding expectations.

Private sector payrolls grew by 118,000 in August, falling short of the expected 136,000. The July figure was also revised down, from 97,000 to 74,000.

The manufacturing sector saw significant losses, shedding 24,000 jobs—six times higher than anticipated. However, the July manufacturing figure was revised upward, showing an increase of 6,000 jobs, compared to the previously reported growth of just 1,000.

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Disappointing Job Growth , U.S. Adds 142,000 Jobs ,  Previous Months Revised
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