United States: job creations higher than expected, but unemployment rate on the rise

(Boursier.com) — According to the US Department of Labor, non-farm job creations for August came in at 315,000, versus 300,000 from the FactSet consensus and 526,000 from the revised reading for the previous month. Job creations in the private sector stood at 308,000, against 295,000 consensus and 477,000 a month earlier. The unemployment rate nevertheless increased to 3.7%, against 3.5% consensus. The average hourly wage progressed a little less than expected, up 0.3% compared to the previous month and 5.2% year on year. The labor force participation rate was 62.4%. Job creations in the manufacturing sector were 22,000, against 18,000 consensus.