US jobs report beats expectations
US jobs report beats expectations
The latest US jobs report shows that employers went on a hiring spree in August.
The labor market added 162,000 jobs for the month, nearly triple the expected figure.
The Labor Department released the figures on Friday.
The increase in non-farm payrolls easily beat out a market forecast that there would be about 55,000 additional jobs. The department also revised upward its figures for June and July.
The unemployment rate remained low at 4.1%, the same as July.
Chairman of the Federal Reserve Kevin Warsh last month called the US job market stable. The Fed is scheduled to start its next policy meeting on September 15th.
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