U.S. Economy Adds 162,000 Jobs in August, Unemployment Rate Holds Steady at 4.1%

The U.S. economy significantly surpassed expectations in August by adding 162,000 nonfarm payrolls, while the unemployment rate remained unchanged at 4.1%. This strong labor market report, which also included upward revisions to June and July job gains, has intensified expectations for a Federal Reserve interest rate hike at its upcoming meeting.