US jobs report smashes forecasts; shares in Falklands oil explorers plunge as Argentina threatens sanctions – business live
Summary
The US economy added 162,000 jobs in August, which is much higher than the expected 56,000 jobs. The July job losses were revised to show growth instead, indicating the labor market is stronger than first thought.Key Facts
- August saw 162,000 new jobs added in the US economy.
- July’s job numbers were revised up from losing 23,000 jobs to gaining 21,000 jobs.
- The unemployment rate in August stayed steady at 4.1%.
- Most new jobs came from food services and drinking places, adding 59,000 jobs.
- Local government education added 42,000 jobs in August.
- Manufacturing jobs rose by 16,000 and health care jobs by 13,000.
- The information sector lost 23,000 jobs, including in computing, publishing, and broadcasting.
- The US dollar rose following the stronger-than-expected jobs report.
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