In August, U.S. employers added 151,000 jobs and the official unemployment rate remained at 4.9 percent, according to the Bureau of Labor Statistics.
While the figures didn’t meet economist predictions, job growth has been robust over the last couple of months. July saw an increase of 275,000 jobs and June had a gain of 271,000.
Meanwhile, overall economic growth has been weak.
The job numbers and the GDP numbers are a tale of two economies, said Burns McKinney, an analyst with Allianz’s NFJ Investment Group.