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U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
Employers beat forecasts by adding 162,000 jobs, but wage growth slowed to 3.1% and traders lifted bets on a Federal Reserve rate hike.
- 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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MACDONALD: Economy Adds Real Jobs as Trump Cuts More Fake Ones
A point I don’t see mentioned often enough when monthly jobs reports come out is that these are real jobs. Past Administrations have used tax dollars to grow government and then crow about how many “jobs” they created. Real jobs add value, while Government jobs are net drags on the economy, so their creation ought ...
Coverage Details
Total News Sources450
Leaning Left67Leaning Right95Center122Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 24%
C 43%
R 33%
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