US economy added 142,000 jobs in August, missing expectations

U.S. job growth picked up in August but missed economists' expectations, while the unemployment rate was little changed.

The U.S. Department of Labor on Friday reported that employers added 142,000 jobs in August, compared to the 160,000 gain that was projected by LSEG economists.

The unemployment rate also dipped slightly to 4.2%, in line with expectations, after it had unexpectedly risen to 4.3% in July, which was the highest level for the jobless rate since October 2021.