US non-farm payroll employment grew 315k in August, slightly above expectation of 300k. Total employment was 240k above the pre-pandemic level.
Unemployment rose 0.2% to 3.7%, above expectation of 3.5%. Number of unemployed persons increased 344k to 6m. Labor force participation rate rose 0.3% to 62.4%, but remained -1.0% below its pre-pandemic level.
Average hourly earnings rose 0.3% mom, 5.2% yoy, matched expectations.
