The August figures follow the upwardly revised 1.1 million jobs for July (revised from the preliminary report of 943,000), which was the second straight month above consensus, and an unemployment rate of 5.4 percent, which was also better than consensus. The economy added 962,000 in June (revised up from last month’s estimate of 938,000 and the preliminary estimate of 850,000) and 614,000 in May.
August Jobs Report:
+ 235,000 (economist forecasts: 725,000)
That is what one would call a big, big miss.
Unemployment rate: 5.2%
— Phil Mattingly (@Phil_Mattingly) September 3, 2021