U.S. employers added 162,000 jobs in August, exceeding all estimates in a Bloomberg survey, while the unemployment rate held at 4.1%, according to the Bureau of Labor Statistics. June and July payrolls were also revised up by a combined 55,000 jobs, including a revision that erased July's previously reported job loss.
- August's 162,000 payroll gain was well above the 31,000 average monthly increase over the prior 12 months.
- July payrolls were revised from a 23,000 decline to a 21,000 increase, while June was revised from +20,000 to +31,000.
- Food services and drinking places added 59,000 jobs, while local government education added 42,000.
- Manufacturing added 16,000 jobs, while information employment fell by 23,000.
- Average hourly earnings rose 0.3% month-over-month and 3.1% from a year earlier.
- Labor force participation edged up to 61.6%, while the number working part time for economic reasons fell by 414,000.
- Treasury yields rose and stock-index futures fell following the report.
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Editor’s Note: This is a developing story. This article may be updated as more details become available.
