US economy creates 162,000 jobs in August as unemployment holds at 4.1% despite recent slowdown fears
New Delhi, Sept. 4 -- The US economy added 162,000 jobs in August, far exceeding forecasts and providing fresh evidence that the labour market has remained more resilient than a weak summer run suggested.
The unemployment rate was unchanged at 4.1% while the labour force participation edged up to 61.6%, according to figures released on Friday by the Bureau of Labour Statistics. The number of unemployed people stood at about 7 million, little changed from July.
The scale of the jobs gain was striking. Employment had increased by an average of only 31,000 a month over the previous year, making August's 162,000 rise a significant departure from that subdued pace. MarketWatch reported that economists had expected a gain of roughly 53,000 jo...
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