U.S. Employment Posts a Surprise Gain, Rising by 162,000 in August

【Financial News New York = Reporter Lee Byung-chul】  United States employment in August posted a surprise, coming in more than three times above market expectations. With the unemployment rate holding at 4.1%, analysts said the U.S. labor market appears to have recovered from its weakness in early summer. The unexpected strength in employment is also expected to affect the Federal Reserve System (Fed)’s interest-rate decision, particularly as the number of new jobs needed in the U.S. labor market has fallen sharply due to an aging population and reduced immigration.
The U.S. Department of Labor said on September 4 local time that nonfarm payrolls increased by 162,000 in August from the previous month. That was more than three times the market forecast of 53,000. The unemployment rate remained unchanged from the previous month at 4.1%.
The latest employment report again confirmed that the U.S. labor market is stronger than expected. Concerns had emerged that employment growth in the United States would weaken rapidly as companies slowed hiring and economic uncertainty increased. However, the August figures overturned that outlook.




[email protected] Reporter Lee Byung-chul Reporter