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By Staff Reporters
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Hiring unexpectedly picked up in August as employers added 187,000 jobs despite high interest rates and inflation but totals for the prior two months were revised down sharply. The unemployment rate, which is calculated from a separate survey of households, rose from 3.5% to 3.8%, the Labor Department said Friday. That’s because of a surge of Americans into the labor force, which includes people working and looking for jobs. Economists surveyed by Bloomberg had estimated that 168,000 jobs were added.
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Stock spotlight: Dell had its best day since going public (for a second time) in 2018 after far surpassing expectations for Q2. Analysts called it an early winner in the AI boom.
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Filed under: Alerts Sign-Up, Experts Invited, Financial Planning, Funding Basics, Information Technology, Investing | Tagged: AI, artifical inteligence, Bloomberg, Bloomberg News, Dell, fed, FOMC, hiring, hiring jobs, inflation, Jerome Powell, jobs, jobs report, Labor Department |
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