U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
- On Friday, the Bureau of Labor Statistics reported employers added 162,000 jobs in August, reversing July's revised gain of 21,000 and marking the strongest monthly increase since March. The unemployment rate held steady at 4.1%.
- Food services led growth by adding 59,000 positions, while local government education contributed 42,000 jobs, helping the economy recover from July's dismal performance after initial reports suggested a contraction.
- Reflecting this hiring surge, the labor force participation rate ticked up to 61.6% in August, and average hourly earnings rose 0.3% to $37.75. The total number of unemployed Americans held at 7.0 million.
- Federal Reserve Chairman Kevin Warsh and other policymakers face pressure to hike interest rates at the bank's Sept 16 meeting. Fed officials will review August employment data and the upcoming inflation report to determine next steps.
- As 7.0 million Americans remain unemployed, employers prioritize retaining existing staff over expansion in a "low-hire, low-fire" market. Investors await next Friday's CPI report to gauge whether inflation remains on a path toward the 2% target.
190 Articles
190 Articles
abc 6 Philadelphia
Hiring blew past expectations in August, jobs report shows
A jobs report on Friday provided a key gauge of the U.S. economy as shoppers weather elevated inflation and central bankers weigh a possible interest rate hike.
Trump Economy Roars Back In Blockbuster Jobs Report
The U.S. economy came roaring back in August, crushing Wall Street expectations with a blockbuster jobs report that showed hiring accelerating and unemployment holding steady. Employers added 162,000 jobs last month, according to the Bureau of Labor Statistics, nearly triple the 56,000 gain expected by economists surveyed by LSEG. The unemployment rate held at 4.1%, […]
The United States economy added 162,000 jobs in August, exceeding expectations, with unemployment stabilizing at 4.1%, which enhanced the likelihood of interest raising, amid high mortgage costs.
US shows strong job growth in August in boon to Trump ahead of midterms
Employment in the United States grew by 162,000 jobs in August, and the unemployment rate remained steady at 4.1 percent, the US Bureau of Labor Statistics (BLS) said in a statement. Employment expanded in the restaurant and bar sectors, and jobs in public schools bounced back from a contraction a month earlier, the BLS said. The strong report also revised up job numbers for June and July by a combined 55,000, indicating the US labor market rema…
The U.S. economy maintained the overall unemployment rate at 4.1%. Among Hispanic or Latino workers, unemployment rose by two tenths compared to July, although it remains below the level recorded a year ago.
Coverage Details
Bias Distribution
- 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
