By Manuel Gutierrez, Consulting Economist to NKBA

Total employment is now fully recovered to pre-pandemic levels.

• 98 percent of added jobs were in the private sector.
• All industries experienced growth for the month, led by Professional & Business Services (+68,000), Health Care (+48,000) and Retail Trade (+44,000).  
• Industries furthest below pre-pandemic levels include Entertainment (-7.3 percent) and Hospitality (- 7.1 percent).
• The unemployment rate rose for the first time this year to 3.7 percent, two-tenths of a percent above July.
• Unemployed men rose to 3.8 percent in August, overtaking women who were at 3.5 percent
• Hourly wages rose by 6.1 percent YOY, down from 6.7 percent at the beginning of the year, and trailing the 8.5 percent inflation rate.