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US Unemployment Edges Upward

by Jim Randle

   WASHINGTON --

   The U.S. unemployment rate rose slightly in August and the net gain in
   jobs was lower than economists predicted.

   Friday's report from the Labor Department says the jobless rate rose
   one-tenth of one percent to 4.4 percent. While that is an increase, it
   is still close to a 16-year low.

   Across the economy, there was a net gain of 156,000 jobs, which was
   tens of thousands less than the prior month.

   Wages continued to grow at a 2.5 percent annual rate. PNC Bank chief
   economist Gus Faucher says "soft" wage growth is a persistent problem,
   but predicts a tight labor market may soon prompt employers to offer
   higher pay,

   Government economists who monitor unemployment say Hurricane Harvey had
   "no discernable effect" on these unemployment figures because the data
   was collected before the storm struck. Faucher says the next jobless
   report may show substantially weaker job growth because of Harvey, but
   that the impact will be temporary as people are hired for
   reconstruction efforts.

   The report says 7.1 million Americans are out of work, and another 5.3
   million who want full-time jobs stuck with part-time work. There were
   job gains in manufacturing, construction, professional services, and
   health care.