Labor Market Whiplash: Why August's Jobs Report Is a Mixed Bag The August jobs report has landed, with 162,000 new hires exceeding forecasts. However, a closer look reveals a more nuanced picture of the labor market.
Education hiring surged ahead in August, driven by teachers returning to work after summer break. This is no surprise, given the importance of getting kids back into classrooms.
More encouraging was the rebound in hospitality jobs, particularly in restaurants, which were hit hard by pandemic related lockdowns and restrictions. Wage growth remains a concern, with a 3.