The nation added 187,000 jobs in August and an average of 236,000 per month this year. That’s a more sustainable rate than the monthly average of 399,000 jobs in ’22 and 606,000 in ’21. August’s growth is also more in line with that of ’19, when gains averaged 163,000 per month.

The unemployment rate rose from 3.从7月份的5%到3%.8月8日. This was due to more Americans seeking work, not a surge in layoffs. Last month, 736,000 Americans entered the workforce, the biggest bump since January of this year. 

The 劳动力 participation rate (LFPR) rose from 62.6%至62%.8%. This is the highest it’s been post-pandemic. After a dip in July, the LFPR for prime-aged workers, those between 25 and 54, returned to 82.5%. That’s the highest it’s been since March ’02.

The number of job openings has declined significantly. 有8个.8 million unfilled positions in July, down from a peak of 12.22年3月的1亿美元. “退出,” also known as “voluntary separations,” or more colloquially “job hopping,” have fallen to the lowest level since February ’21. The drop in openings and quits should ease pressure on wages and inflation.

The Bureau of Economic 分析 reported the economy grew 2.1 percent in Q2/23 adjusted for inflation. In the ten years prior to the pandemic, growth averaged 2.每季度3%. The Federal Reserve Bank of Atlanta estimates U.S. GDP is currently growing at a 5.年利率6%, but that’s likely to be revised downward as additional economic data becomes available.

To continue reading, download this report.

Note: The geographic area referred to in this publication as “Houston,” "Houston Area” and “Metro Houston” is the nine-county Census designated metropolitan statistical area of Houston-The Woodlands-Sugar Land, TX. The nine counties are: Austin, Brazoria, 钱伯斯, 本德堡, 加尔维斯顿, 哈里斯, 自由, 蒙哥马利和沃勒.