US Economy Adds 162,000 Jobs in August

Washington, Sept 4 (KUNA) -- The U.S. Department of Labor announced on Friday that the country’s economy added 162,000 non-farm jobs in August, marking the strongest monthly gain since March, while the unemployment rate held steady at 4.1 percent.

The department’s Bureau of Labor Statistics said in its monthly report that the job increase surpassed economists’ expectations of 53,000 positions, with the unemployment rate remaining at 4.1 percent, in line with forecasts.

The employment data aligned with Federal Reserve officials’ characterization of the labor market as stable. The Fed is likely to await next week’s release of consumer and producer price indices before deciding on interest rates within less than two weeks. (End) R.R. / A.M.S.