US nonfarm payrolls rose 162,000 in August, beating economists' forecasts, the
Bureau of Labor Statistics said Friday, with the prior two months' payrolls
revised higher. The unemployment rate held at 4.1%. Job gains were led by a
rebound in leisure & hospitality and government hiring; construction and
manufacturing also recorded solid increases. The report indicates the US labor
market remains resilient amid inflationary pressure and Iran‑related
uncertainty. Fed officials may view the print as evidence supporting further
rate hikes, though next week's US CPI will be the key input for the Fed's
decision later this month.
