US adds 162,000 jobs in August, putting focus back on inflation
WASHINGTON — The U.S. job market rebounded in August as employers added a surprising 162,000 jobs. The unemployment rate stayed at a low 4.1 percent. Hiring far exceeded the 65,000 forecasters had expected, according to a poll by FactSet. Labor Department revisions also looked good, adding 55,000 to June and July payrolls. Employers created 21,000 jobs in July; the Labor Department had originally…
In August, the U.S. added a substantial 162,000 jobs, surpassing forecasts and bringing attention back to the issue of inflation. The unemployment rate remained low at 4.1 percent. Hiring exceeded expectations, with FactSet surveyors predicting only 65,000 new positions. Labor Department adjustments further bolstered the job market, adding 55,000 jobs to June and July figures.
However, the focus of conversation shifted to inflation following the employment report. Voters are growing dissatisfied with the rising costs, especially the record-high fuel prices that have resulted from the U.S. and Israel's military actions against Iran in February. Additionally, stagnant wage growth has exacerbated the impact of inflation on many Americans.
In July, employers had actually added 21,000 jobs, a figure that was later revised upward by the Labor Department from an initial report of 23,000 job losses. President Trump celebrated the strong hiring numbers, stating, "Great jobs number just announced, breaking all estimates (except mine!) by double and triple - And you haven’t seen anything yet!"
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- US economy creates 162,000 jobs in August as unemployment holds at 4.1% despite recent slowdown fears livemint.com
- US jobs surge in August, putting rate hike firmly in play straitstimes.com
- Canada jobs fall sharply in August as labour market loses summer momentum investing.com
- US adds 162,000 jobs in August, putting focus back on inflation koreatimes.co.kr
- August Jobs Report Favors a Fed Rate Hike, Sahm Says bloomberg.com
- Hiring burst of 162,000 jobs in August puts the focus squarely back on inflation in the U.S. pbs.org
- U.S. added stronger than expected 162,000 jobs in August as labor market bounced back coindesk.com
- US adds 162,000 jobs in August, raising Fed rate hike expectations aljazeera.com
