U.S. payrolls grow, but at slower pace

Payrolls continued to grow in the United States in August, but at a slower pace than average monthly gains over the past year.

Nonfarm payrolls increased 142,000 and the unemployment rate edged down a tenth of a point to 4.2 percent, according to the latest estimates from the U.S. Bureau of Labor Statistics.

Payroll estimates and the jobless rate are based on separate business and household surveys, respectively.

Initial estimates for payroll gains for the previous two months  were revised downward a total of 86,000 to 89,000 for July and 118,000 for June.

Based on the latest numbers, payrolls have increased an average of 202,000 over the past year.

For August, 7.1 million people were counted among those unsuccessfully looking for work. Of those, 1.5 million have been out of work 27 weeks or longer.

Another 4.8 million people were counted among those working part-time because their hours were reduced or they were unable to find full-time positions.

The labor participation rate — the proportion of the population working or looking for work — held steady at 62.7 percent. The rate has changed little over the past year.

Payroll gains for August were spread out among industry sectors. Employment increased 34,000 on construction, 31,000 in health care and 13,000 in social assistance.

Employment decreased 24,000 in manufacturing, reflecting layoffs in durable goods industries.

The average workweek for employees on private, nonfarm payrolls edged up a tenth of an hour to 34.3 hours. The average manufacturing workweek edged up a tenth of an hour to 40 hours.

Average hourly earnings for employees on private, nonfarm payrolls increased 14 cents to $35.21. Over the past year, wages increased 3.8 percent.