In August 2022, the economy added 315,000 jobs, meeting expectations. The biggest winners, by sector, were Business Services, Health Care and Retail. But the most surprising statistic that came from the report is that the labor force expanded by 786,000 people!
The unemployment rate is now 3.7%, jumping up .2% from July.
An increase in the workforce is good for small businesses looking to hire employees in a tight labor market.