Hiring burst of 162,000 jobs in August puts the focus squarely back on inflation in the U.S.
Summary
The U.S. added 162,000 jobs in August, which was much more than experts expected. The unemployment rate stayed low at 4.1%, showing strong job market conditions.Key Facts
- Employers added 162,000 jobs in August.
- Experts had predicted only 65,000 new jobs.
- The unemployment rate remained at 4.1%.
- The Labor Department updated June and July job numbers, adding 55,000 more jobs to previous counts.
- In July, the job market actually grew by 21,000 jobs after revisions, instead of shrinking.
- This strong jobs report came two months before the U.S. midterm elections.
- The economic outlook, including jobs, is important to voters in these elections.
- The report was released by the U.S. Labor Department on a Friday.
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