| Actual | Previous | |
|---|---|---|
| Adjusted | 2.9% | 2.9% |
| Not Adjusted | 2.8% | 2.7% |
Highlights
The jobless rate in August was 2.9 percent, seasonally adjusted, where it has been anchored since May, while rising to 2.8 percent from 2.7 percent on an unadjusted basis. The youth unemployment rate, however, rose to 3.2 percent in August from 2.7 percent the month before.
There were 1,940 fewer job openings in August, down 4.9 percent to 37,865 on an unadjusted basis, but 4.5 percent above a year ago. When accounting for seasonal factors, they were down a more modest 0.8 percent from July to 37,472.
The number of jobseekers fell 0.2 percent to 209,090, unadjusted from the previous month while up 16.0 percent from a year ago. A marginal seasonally adjusted increase of 0.1 percent was reported for August with 218,917 looking for jobs.
Among economically high-profile industries, the unemployment rate in the chemical and refining industries rose to 3.2 percent from 3.1 percent in July and 2.7 percent from a year ago. In the watch industry, the rate rose to 6.2 percent in August from 6.1 percent the previous month and 5.0 percent from a year ago.
While some industries are facing challenges at the moment, in particular the watch industry due to the 39 percent US imposed tariffs, the broad labor market remains steady.
There were 1,940 fewer job openings in August, down 4.9 percent to 37,865 on an unadjusted basis, but 4.5 percent above a year ago. When accounting for seasonal factors, they were down a more modest 0.8 percent from July to 37,472.
The number of jobseekers fell 0.2 percent to 209,090, unadjusted from the previous month while up 16.0 percent from a year ago. A marginal seasonally adjusted increase of 0.1 percent was reported for August with 218,917 looking for jobs.
Among economically high-profile industries, the unemployment rate in the chemical and refining industries rose to 3.2 percent from 3.1 percent in July and 2.7 percent from a year ago. In the watch industry, the rate rose to 6.2 percent in August from 6.1 percent the previous month and 5.0 percent from a year ago.
While some industries are facing challenges at the moment, in particular the watch industry due to the 39 percent US imposed tariffs, the broad labor market remains steady.
Definition
The unemployment rate measures the number of unemployed as a percentage of the labour force. Both seasonally adjusted and unadjusted monthly data are provided.
Description
Like the employment data, unemployment data help to gauge the current state as well as the future direction of the economy. Employment data are categorized by sectors. This sector data can go a long way in helping investors determine in which economic sectors they intend to invest.
By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.
By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.
