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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 the U.S. economy added 162,000 payroll jobs in August, far exceeding expectations, while the unemployment rate held steady at 4.1 percent.
- Leisure and hospitality drove gains with 59,000 new positions, while the Bureau revised June and July payrolls upward by a combined 55,000 jobs to reflect stronger underlying labor market momentum.
- Labor force participation rose to 61.6 percent, reflecting returning workers, though wage growth slowed to 3.1 percent annually—consistent with the Fed's 2 percent inflation target.
- Investors ramped up bets on a September Federal Reserve rate hike to roughly 62 percent, with market participants weighing the robust jobs data against persistent inflation concerns.
- President Donald Trump renewed his demand for lower interest rates on Truth Social, complicating the Fed's decision-making ahead of next week's inflation data, which will likely determine the September rate decision.
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Economist Justin Wolfers said the U.S. economy created 162,000 jobs in August, more than most economists expected, but President Donald Trump managed to lock out the jobs he most campaigned on creating.“This is an administration that talks about big boofy blokes in hard hats and steel-toed boots. Manufacturing coming home. The 1960s, all over again. That rhetoric is the entire justification for the tariffs,” reports Wolfers on his substack. “Tha…
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Coverage Details
Total News Sources390
Leaning Left58Leaning Right78Center110Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 23%
C 45%
R 32%
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