U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
Employers added 162,000 jobs in August, but average hourly earnings rose 3.1% over the year, below inflation, Labor Department data showed.
- On Friday, the Bureau of Labor Statistics reported the U.S. economy added 162,000 jobs in August, far exceeding forecasts, while unemployment held steady at 4.1 percent.
- President Donald Trump renewed his demand for lower interest rates via Truth Social on Friday, pressuring Fed Chair Kevin Warsh to cut borrowing costs despite strong labor market data.
- Following the report, CME Group's FedWatch tool now indicates a 62.4% probability of a September interest rate hike, as the Federal Reserve struggles to lower inflation from its 3.7% rate.
- Average hourly earnings rose 3.1% year-over-year, the lowest annual rate in several years, while food services added 59,000 jobs and information industries shed 23,000 amid artificial intelligence adoption.
- The Federal Open Market Committee will convene September 15-16 to decide on rates, with policy decisions likely depending on inflation figures due next week.
289 Articles
289 Articles
Job growth rebounds in August, opening door for Fed to act on inflation
The U.S. economy’s 162,000 jobs far outpaced expectations for August. The Labor Department also revised upward its June and July figures. But in the information sector, job declines might signal effects of artificial intelligence.
'Blow expectations out of the water': HUGE GAINS in latest jobs report
The Trump administration is touting the results of the newest jobs report that shows a strong economy with growing employment.The Bureau of Labor Statistics report released Friday said the economy added 162,000 jobs in August, which doubled experts' expectations for the month.'You haven’t seen anything yet!'The president celebrated the report in a post on the Truth Social platform."Great jobs number just announced, breaking all estimates (except…
Job growth, but surging diesel prices - Trump's midterms mixed bag
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. The price of diesel -- used for road hauling, agriculture and construction -- hit a new record on Friday, however. The cost of a gallon of diesel is up 55 percent since the Iran war began in late February, according to the AAA motorists' association. Stock markets were down on the…
The U.S. economy created three times as many jobs as expected in August according to monthly labour market statistics and the unemployment rate is stable at 4.1%. These figures could justify an increase in interest rates while Donald Trump continues to demand a fall.
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