U.S. job market rebounds as employers add 162,000 jobs
The U.S. job market saw an unexpected rebound in August with 162,000 new jobs added, keeping the unemployment rate at a low 4.1%. Despite this growth, hiring remains sluggish as companies struggle with labor shortages and shifting economic conditions.
Why it matters
The report provides a critical snapshot of the U.S. economy ahead of midterm elections, highlighting the complex tension between low unemployment and weak hiring trends.
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%.
The jobs report, issued by the Labor Department Friday, could be good news for President Donald Trump two months before midterm elections in which the health of the economy is weighing on voters' minds.
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 reported that they'd cut 23,000.
And the U.S. labor force — the number of people working or looking for work — jumped by 683,000 last month after falling in June and July.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in