U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
Restaurants and bars led hiring with 59,000 jobs, while revised figures added 55,000 to June and July payrolls, the Labor Department said.
- 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.
218 Articles
218 Articles
In August, the U.S. economy created about 162,000 jobs outside of the agricultural sector, which is several times more than expected. The unemployment rate remained at 4.1 percent, the U.S. Labor Department reported.
US job market rebounds with 162,000 new jobs, unemployment rate at 4.1 per cent
The US job market rebounded in August as employers added a surprising 162,000 jobs. The unemployment rate stayed at a low 4.1 per cent. The jobs report, issued by the Labour Department on Friday, could be good news for President Donald Trump two months before midterm elections in which the health of the economy is weighing on voters’ minds. Hiring far exceeded the 65,000 forecasters had expected, according to a poll by FactSet. Labour Department…
Washington, 4 Sep (EFE).- The unemployment rate in the United States remained at 4.1% in August, when 162,000 jobs were created, above the 53,000 jobs estimated by analysts, according to the Labour Statistics Bureau (BLS).In the eighth month of the year there were increases in [...] The entry Unemployment in the United States remains at 4.1% in August, with a creation of 162,000 posts being published first in HolaNews.
August Jobs Report Blows Past Every Prediction. – Jeffrey Lord
The doomsayers had a rough Friday. The Labor Department reported that American employers added 162,000 jobs in August — nearly triple what the economists on cable news had penciled in. The consensus call, from surveys run by CNBC and The Wall Street Journal, was for a gain of around 53,000. The country blew past it. It was the strongest month of hiring since March, and it landed at a moment when a lot of people in the press had already written t…
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