The U.S. jobs report for August will offer a snapshot of how tight the labor market was at the end of the summer.
Job growth has been resilient this year, despite a contraction in the overall economy in the first half of 2022. Employers created 528,000 jobs in July, according to the Labor Department, recovering all the 22 million jobs lost in early 2020 at the start of the pandemic. The unemployment rate matched a 50-year low of 3.5%.