August jobs report shows U.S. added 162,000 jobs, blowing past forecasts
Summary
U.S. employers added 162,000 jobs in August, which is much higher than experts expected. The unemployment rate stayed the same at 4.1%. Most new jobs were in food services, bars, and local government education.Key Facts
- Economists predicted 65,000 jobs would be added in August.
- Actual job growth in August was 162,000, more than double the forecast.
- The unemployment rate was steady at 4.1% from the previous month.
- Food services and bars added 59,000 jobs in August.
- Local government education added 42,000 jobs in August.
- The monthly job gain was over five times the average of the last year’s monthly gains (31,000).
- The Labor Department revised earlier months’ job gains upward: 11,000 more jobs in June and 21,000 in July.
- These numbers show stronger hiring and suggest the job market is adjusting but still stable.
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