US Labor Market Cools in August With Only 142,000 New Jobs

August jobs data fall short of expectations for the second consecutive month, with full-time positions plummeting.

A hiring sign is displayed at a grocery store in Deerfield, Ill., on July 25, 2024. Nam Y. Huh, File/AP Photo

The U.S. economy created fewer jobs than the market projected in August as the overheated labor market of the past few years continues to show signs of cooling off.

Last month, payrolls increased by 142,000, falling short of the consensus estimate of 160,000, according to the Bureau of Labor Statistics (BLS).