Jobs report live updates: August jobs data expected to show labor market 'cooling, not cracking' - Yahoo Finance
The US labor market showed unexpected strength in August, adding 162,000 jobs while the unemployment rate held steady at 4.1%. This data provides critical context for the Federal Reserve as they weigh future interest rate adjustments.
Why it matters
The report influences national monetary policy and provides a barometer for the overall health of the US economy.
The August jobs report showed that hiring surged last month.The US added 162,000 jobs last month, the Labor Department reported on Friday. Economists expected the US to have added 55,000 jobs last month, rebounding from an unexpected decline in jobs in July. The unemployment rate remained unchanged at 4.1%.While inflation remains the central question of the day, Friday's jobs report informs the Federal Reserve's decision whether to hike interest rates or hold them steady later this month. The August jobs report follows a string of indicators on US employment trends this week.
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