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Employment <br />-400 <br />-200 <br />0 <br />200 <br />400 <br />600 <br />800 <br />1,000 <br />MOM Change In Thousands (000's)Nonfarm Payroll (000's) <br />Non-farm Payroll (000's) <br />3 month average (000's) <br />0.0% <br />5.0% <br />10.0% <br />15.0% <br />20.0% <br />25.0% <br />Unemployment Rate <br />Underemployment Rate (U6) <br />Unemployment Rate (U3)Rate (%)The U.S.economy added 187,000 jobs in August,exceeding consensus expectations, and the last two months were revised downward by <br />110,000 jobs.The pace of job growth is softening with the three-month moving average payrolls at 150,000 and the six-month moving <br />average at 194,000.The unemployment rate rose to 3.8%in August from 3.5%in July, and the labor force participation rate increased to <br />62.8%,the highest level since February of 2020.The U-6 underemployment rate,which includes those who are marginally attached to the <br />labor force and employed part time for economic reasons,increased to 7.1%from the prior month at 6.7%.Average hourly earnings <br />declined to 4.3%year-over-year in August from 4.4%in July.While the U.S.labor market is moderating,employment remains strong by <br />historical standards. <br />Source: US Department of Labor Source: US Department of Labor <br />4