The unemployment Rate Unexpectedly Rose to 3.8% in August, the highest since February 2022. Nonfarm payrolls increased by 187,000, beating estimates, but previous months' counts were revised lower. The labor force participation rate rose to 62.8%, the highest since February 2020. The more encompassing unemployment measure, which includes discouraged workers and those working part-time for economic reasons, jumped to 7.1%, the highest since May 2022. Average hourly earnings increased 0.2% for the month, below forecasts. Health care, leisure and hospitality, social assistance, and construction showed job gains, while transportation, warehousing, and information sectors lost jobs.

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