U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%
The Labor Department said hiring topped forecasts by more than 100,000 jobs and revisions added 55,000 more to June and July.
- 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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162K Jobs Gained in August, Arizona Unemployment Rate Remained Unchanged
WASHINGTON, DC – On Friday, the Joint Economic Committee released its Monthly Employment Update. In August, jobs increased by 162,000 jobs, more than three times expectations of 53,000. At the same time, the unemployment rate held steady at 4.1 percent while the labor force participation rate ticked up by 0.2 percentage points to 61.6 percent. The...
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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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