The Bureau of Labor Statistics has released its latest jobs report.
The unemployment rate held steady in August at 3.9% – the lowest since 2000. The number of unemployed workers – including the long-term unemployed – changed little compared to July.
Employment rose in professional and business services, healthcare, wholesale trade, transportation and warehousing, and mining.
The average hourly wage increased 10 cents, to $27.16.
Hiring in construction continued its upward trend, rising to 23,000 jobs in August (and a total of 297,000 jobs since January 1).
The construction industry continues to be hit hard by a lack of skilled workers. This means contractors are starting to offer higher wages to attract qualified talent. In some markets, wages for entry-level construction workers are at $17 per hour, while experienced carpenters are being offered $35 per hour.