U.S. economy adds 200K jobs in August as pay rises most in nine years
WASHINGTON — The pace of hiring in the United States quickened in August, and wages grew at their fastest pace in nine years — evidence that employers remain confident despite the Trump administration’s ongoing conflicts with its trading partners.
The economy added a strong 201,000 jobs, and the unemployment rate stayed at 3.9 percent, near an 18-year low, the government said Friday in its monthly jobs report.
Taken as a whole, the data pointed to a job market that remains resilient even after nearly a decade of economic growth — the second-longest such stretch in U.S. history — and even with tariffs and counter-tariffs on imports and exports looming over U.S. employers that rely on global trade.
The economy is expanding at a healthy pace, fueled by tax cuts, confident consumers, greater business investment in equipment and more government spending. Growth reached 4.2 percent at an annual rate in the April-June quarter, the fastest pace in four years.
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Twenty years ago, as a sophomore at University of Colorado Denver, Nathan Brough wrote an economics paper on hemp’s potential to grow the nation’s gross domestic product.