These data suggest continued improvement in U.S. labor market conditions, despite a somewhat softer August number yesterday, which showed that 142,000 jobs were added to nonfarm U.S. payrolls. However, I prefer to look at longer-term trends rather than monthly numbers that are still subject to revision.
Year-to-date monthly average job growth has amounted to 215,000 jobs this year, compared with a monthly average of 194,000 jobs added last year. Despite the slowdown in August, job creation has improved markedly this year.