US jobs added August beat forecasts with 162,000 new positions

US jobs added August shatter expectations

The Labor Department reported ↑ 162,000 US jobs added August, far exceeding the Reuters forecast of 120,000. Unemployment nudged to 3.5%, the lowest since 2022, while wage growth steadied at 0.2% month‑over‑month.

“The labor market remains resilient despite monetary tightening,” said a senior economist at Bloomberg.

The surge has rekindled speculation that the Federal Reserve may delay its September rate hike, though some analysts now price in a ↓ 0.25% increase in borrowing costs. Market participants are also revisiting the impact of the pandemic on sectoral hiring patterns, noting that service‑oriented jobs rebounded faster than manufacturing. Overall, the data suggest a still‑robust economy, but the Fed’s next move will hinge on inflation trajectories and global growth risks.

Reported by Arthur Sterling (Macroeconomics Editor).