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US jobs report released
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
US economy added 36.5K jobs in August, per Revelio Labs. The report signals a cooling labor market, with hiring half of 2024's average.
Background
The US jobs report for August 2026 is due Friday, with expectations of continued soft hiring after a summer of muted job growth. Private sector indicators like ADP showed only 38,000 jobs added, and job growth is running at about half the pace of 2024. The report is closely watched for its implications on Federal Reserve interest rate decisions.
How it unfolded
- Sep 2, 2026ADP reported private-sector employment increased by 38,000 jobs in August, with base pay up 3.2%.
- Sep 3, 2026Revelio Labs released its August data showing 36.5K jobs added, with AI-exposed occupations seeing a 19% employment gap for workers under 25.
- Sep 4, 2026The Bureau of Labor Statistics is set to release the official August jobs report, expected to show continued weak hiring.
Who’s saying what
- Analysts
- Economists expect a 'room temperature' labor market, not too hot or cold, which would be good news for the Fed.
- Bears
- Some indicators suggest weaker-than-expected numbers, with job growth running at half the pace of 2024.
Still unverified
Revelio Labs' estimate of 36.5K jobs is a private estimate and may differ from the official BLS figure.