US employers added 162,000 jobs, the Labor Department reported, far exceeding the 56,000 economists had forecast. The figure also marks a sharp rise from the previous period’s reading of 21,000.
What the number shows
Non Farm Payrolls count the change in the number of paid workers on business payrolls across the country, excluding farm workers and a handful of other categories. It is one of the most closely watched indicators of the health of the US labour market, released monthly by the Labor Department.
A reading above forecast points to stronger hiring than analysts had penciled in, while the jump from 21,000 to 162,000 shows a pickup in the pace of job creation compared with the prior month. The data was released at 12:30 GMT.
Wider context
Released alongside the payrolls figure, the US unemployment rate held at 4.1% in August, unchanged from July and in line with the market forecast.
Related: China manufacturing PMI edges above forecast at 49.8
Source: Labor Department | Data: FRED — St. Louis Fed
