US adds jobs in August, beating economic forecasts
Summary
The US economy added 162,000 jobs in August, mainly in public schools and food services, beating expert predictions. The unemployment rate stayed the same, and the report comes before the Federal Reserve decides on interest rates later this month.Key Facts
- The US added 162,000 jobs in August, more than expected by analysts.
- Public schools added around 42,000 jobs as the new school year started.
- Food service jobs increased by 59,000.
- Construction gained 22,000 jobs, and healthcare added 12,000 jobs.
- The information sector lost 23,000 jobs, with layoffs at companies like Scripps TV and Zillow.
- The financial activities sector fell by 12,000 jobs.
- Job openings were about 7.3 million in July, with 5.1 million people leaving jobs.
- President Donald Trump urged the Federal Reserve to lower interest rates, saying the US credit situation is stronger now.
- Despite job growth, US stock markets fell slightly after Trump’s comments.
- Canada lost 41,700 jobs in August, facing challenges from US-Canada trade tensions and other global factors.
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