Labor

Majority of new hires are people of color for first time in history

Illustration: Rebecca Zisser/Axios

People of color now comprise a majority of new hires for the first time in U.S. history, according to the Washington Post's analysis of Labor Department data dating back to 1970.

Why it matters: Minority hires overtook white hires last year, a sign of the shifting demographics of the country's workforce. It means that minority families, who on average earn less and are less wealthy than whites, are gaining more financial security.

August job gains come in at 130,000, below expectations

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 130,000 jobs in August — less than the 150,000 economists expected — while the unemployment rate held at 3.7%, the Labor Department said on Friday.

Why it matters: The slowdown could be the first sign that companies may be beginning to pull back on hiring, after the economic uncertainty from the U.S.-China trade war that's put a dent in business spending.