U.S. economy shows job, wage growth

The U.S. economy added 201,000 jobs in August, up from a revised 147,000 jobs in July, the U.S. Department of Labor announced Friday.

Unemployment remained at 3.9 percent, and wage growth had its strongest year-over-year increase since 2009, according to the department’s monthly assessment of the national job market.

Average hourly earnings increased by 10 cents, to $27.16. Year-over-year growth in earnings was 2.9 percent.

“The economy is very strong,” said Jay Prag, professor of economics at Claremont Graduate University’s Drucker School of Management. “We added 200,000 jobs and unemployment is below four percent. The tax cuts and deregulation are doing a good job,”