Today’s Lead Story
Monday, September 7Economy
US Added 162,000 Jobs in August, More Than Three Times What Forecasters Expected
via Bureau of Labor Statistics
The US economy added 162,000 payroll jobs in August — far above the roughly 53,000 economists had predicted — while the unemployment rate held steady at 4.1%. Average hourly wages grew 3.1% over the prior year, though that gain still lags elevated energy and housing costs for many workers.
Why it matters
A stronger-than-expected labor market lowers near-term layoff risk, but with wages trailing key living costs, a steady paycheck may still not be stretching as far as it once did.
