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The US economy added 162,000 jobs in August, according to the latest report from the Bureau of Labor Statistics. The unemployment rate held steady at 4.1% from July.Nonfarm payroll employment was forecast to increase by 65,000, vs. the 23,000 decline originally reported in July, according to FactSet. That July loss has since been revised up to a gain of 21,000. Meanwhile, the unemployment rate had been forecast to edge up to 4.2% from 4.1% the prior month.August Jobs Report Key StatsTotal nonfarm payrolls rose by 162,000 after rising by 21,000 in July.The unemployment rate held steady at 4.1% in August from 4.1% in July.In August, average hourly wages rose by 10 cents, or 0.3%, to $37.75. This article was generated with the help of automation and reviewed by Morningstar editors. Learn more about Morningstar’s use of automation. The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies. ...

The United States economy has added 162,000 jobs in August, with large gains in local government education and food services.The unemployment rate remained unchanged, according to the monthly jobs report released by the US Department of Labor’s Bureau of Labor Statistics (BLS) on Friday.Recommended Stories list of 4 itemsend of listThe data was well above analysts’ expectations. Economists polled by Reuters had forecast 56,000 gains, the Wall Street Journal forecast 53,000, and Bloomberg had forecast 55,000, following a loss of 23,000 in July.Local government education, or public schools, accounted for nearly 42,000 of the jobs added as the 2026–27 school year begins across much of the US. Teachers typically fall off payrolls during the summer months when school is not in session.Food service jobs also saw large increases, with the sector adding 59,000 jobs for the month of August compared with the month prior.There were also gains in construction, which added 22,000 jobs, and healthcare, which added 12,000.The information sector,...

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The US economy fell short of Wall Street expectations to add 57,000 jobs in June as the labour market cooled and a World Cup hiring spree petered out, prompting traders to scale back expectations of interest rate rises.Thursday’s figure from the Bureau of Labor Statistics marked a sharp fall from the downwardly revised 129,000 jobs added in May and was less than half of the 115,000 predicted by economists in a Bloomberg poll.The April hiring figure was also revised down to 148,000, representing a combined 74,000 job reversal in April and May.June’s job gains were the weakest this year, with the exception of a weather-driven decline in February, marking a significant cool-down in the labour market after three months of bumper hiring. Thomas Simons at Jefferies said payrolls had “stumbled a bit after several months of solid jobs data”.Despite the drop, job...

The U.S. jobs market forgot about the dog days of August and saw scorching growth. The Bureau of Labor Statistics said nonfarm payrolls rose 162,000 last month . That was far more than the 53,000 expected by economists polled by Dow Jones. Jobs growth for July and June was also revised higher. That, however, did little to dissuade investors from keeping expectations for a Federal Reserve rate hike elevated. According to the CME Group's FedWatch tool, traders still see a 58% chance of a quarter-point rate increase in less than two weeks. Stock futures pulled back following the report, while Treasury yields rose. Here's what strategists, investors and economists around Wall Street had to say: Tim Urbanowicz, chief investment strategist, Innovator ETFs from Goldman Sachs Asset Management: "Today's report was strong, and we could see markets take a react first, ask questions later approach. But once the dust settles, we think investors will realize the broader trend of labor market...

President Donald Trump on Friday demanded that the Federal Reserve slash interest rates or else he will cut off trade with countries with which the U.S. maintains trade deficits.Trump issued the sweeping ultimatum in a Truth Social post reacting to a much-stronger-than-expected monthly jobs report by urging the central bank and its chairman, Kevin Warsh, to "get smart" and cut rates.Read Trump's full post:Great jobs number just announced, breaking all estimates (except mine!) by double and triple - And you haven't seen anything yet! EMPLOYERS ADDED 162,000 JOB IN AUGUST. Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago! A STRONG COUNTRY MEANS A LOWER INTEREST RATE - IT'S A BETTER CREDIT…Very simple! We should have the LOWEST RATE of any country in the World, like "the old days." Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no...

Bitcoin fell below $65,000 on Thursday after stronger-than-expected U.S. jobless claims data reinforced concerns that the Federal Reserve could keep interest rates elevated. Summary Bitcoin traded at $64,384, down 0.69% after failing to close above $65,000. Initial U.S. jobless claims reached 199,000, below economists’ forecast of 204,000. BTC found immediate support near $64,000, while $64,800–$65,000 remains resistance. Further evidence of labor market strength could affect Federal Reserve rate expectations. Bitcoin price rejected near $65,000 According to data from crypto.news, Bitcoin (BTC) price traded at $64,384.27 at press time, marking a 0.69% decline over the previous 24 hours. The pullback followed another unsuccessful attempt to break through the $64,800–$65,000 resistance zone. BTC had recovered from approximately $62,400 earlier in the week and briefly tested the upper end of its recent range. However, buyers failed to secure a...

Businesses added 38,000 jobs in August, fewer than forecast and at the lowest pace since January, private payroll firm ADP said on Wednesday.Economists had forecast a gain of about 47,000, following the 44,000 increase in July.Strong gains came in education and health services, up 45,000 jobs, and leisure and hospitality, with an increase of 16,000, and construction, up 12,000. However, manufacturing lost 17,000 jobs and professional and business services employment decreased by 16,000.“Manufacturing, professional services, and information shed jobs,” Nela Richardson, chief economist at ADP, said in a statement. “Education and health care, construction, and leisure and hospitality all showed solid hiring.”The Best Cartoons on Donald TrumpAverage pay grew by 3% annually for those who stayed in their jobs, while those who switched employment saw their pay rise 4.7%. “Once-predictable wage growth has been overtaken by the complexities of demographic change, persistent inflation, and AI's effects on jobs,” Richardson said.The ADP report comes a day after the government said there...

A boost in hospitality and education employment drove the US economy to create tens of thousands more jobs than expected last month, latest figures suggest.The number of roles added to the world's biggest economy increased by 162,000 in August, almost triple the 56,000 forecast by analysts.The stronger jobs figures are likely to add to growing expectations that the Federal Reserve will increase interest rates later this month.But President Donald Trump urged the Fed to cut rates saying the US should have the "LOWEST RATE of any country in the World"."The Fed Board, with its great new leader, must get smart - BE PATRIOTS for a change. High interest rates put the U.S.A. at a very unfair disadvantage, and I won't allow that to happen!", Trump said in a post on social media, external.Last week, Kevin Warsh, chairman of the US central bank, signalled that rates could be hiked if policymakers were not confident price rises were easing for Americans.Inflation, which...

The Japanese yen clung to its gains against the U.S. dollar on Friday and was on track for its strongest week in more than a month, as traders ramped up bets on a Bank of Japan interest rate hike and broader currency markets awaited U.S. payrolls data.Noriko Hayashi | Bloomberg | Getty ImagesThe dollar jumped on Friday after data showed that U.S. employers ‌added 162,000 jobs in August, well above ​the 56,000 additions expected by economists.The data follows after ⁠an unexpected 23,000 job decline ‌in July. The ‌unemployment rate held steady at 4.1%.The dollar index, ⁠which measures the greenback against a ⁠basket of six leading ⁠currencies, including the yen and the euro, was ​last up ‌0.37% on the day 99.33, with the euro down 0.28% at $1.1592.The Japanese ​yen weakened 0.41% ‌to 156.45 per dollar.Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Source link...

Wage growth, which has been another problem for workers, was 3.1% year-over-year in August. That was unchanged from July. Timmerman called that “the fly in the ointment,” adding that “with oil prices poised to nudge inflation higher, real wages remain vulnerable during the balance of the year.”Among the sectors that saw job growth during the month, employment at restaurants and bars rose by 59,000, while the local government education sector gained 42,000 as teachers returned to school. The construction sector also gained 22,000 roles.However, information technology employment declined by 23,000 in August. In that sector specifically, the Bureau of Labor Statistics said that job losses occurred at companies that provide computing infrastructure, data processing and web hosting.The ongoing lag between wages and inflation also comes at a difficult time for U.S. consumers, especially those in lower income tiers.The inflation rate in July was 3.4% from a year ago, but that was before energy prices started climbing again.On Friday, the international...