The data released today, Friday, in the United States showed positive US labor market data for August and for the fifth consecutive month, with the US economy adding more jobs than expected. The nonfarm payroll employment increased by 315,000 jobs, better than market expectations of about 295,000 jobs, but lower than the previous reading which recorded about 528,000 jobs in July and was revised to 526,000 jobs.

On the other hand, the US unemployment rate rose to 3.7% at the end of August, higher than market expectations and the previous reading which had expected unemployment to remain at 3.5% at the end of July.

In addition, wage growth rose by 0.3%, less than market expectations which indicated a 0.4% increase. The previous reading had recorded wage growth of about 0.5% in July.

The US labor market data is considered the main monthly indicator measuring economic activity; as it includes all major economic sectors. Many other economic indicators rely on its data. The index data reflects labor market performance as well as income and production rates.

Below are the details of the US labor market data:

Employment in business services sector increased by about 68,000 jobs.
Employment in healthcare sector increased by 48,000 jobs.
Employment in manufacturing sector increased by 22,000 jobs.
Employment in retail sector rose by about 15,000 jobs.
Employment in financial services sector increased by about 17,000 jobs.
Employment in mining sector increased by about 6,000 jobs.
Employment did not change much in construction, transportation, domestic services, information sectors, other sectors, and government.