U.S. Nonfarm Payrolls Rise 162,000 in August, Far Exceeding Forecast
Source Summary
U.S. nonfarm payrolls increased by 162,000 in August, significantly exceeding the Dow Jones consensus forecast of 53,000 new jobs. The unemployment rate remained at 4.1%, as expected.
Why it matters
The substantially larger-than-expected job gains signal stronger labor market momentum than economists had anticipated, which may influence Federal Reserve policy decisions.
