Several sectors recorded notable job gains during the month. Restaurants and bars added 59,000 positions, while construction companies increased payrolls by 22,000 and manufacturers added 16,000 jobs. (AP Photo/Nam Y. Huh, file)
\n\nThe US labour market staged a stronger-than-expected recovery in August, with employers adding 162,000 jobs and bringing an end to several months of weak hiring, while the unemployment rate remained steady at 4.1%.
\n\nThe latest figures significantly exceeded economists’ expectations of 65,000 new jobs, according to a FactSet survey. Revisions to earlier data also showed a stronger labour market than previously reported, with payroll estimates for June and July revised upwards by a combined 55,000 jobs.
\n\nJuly, in particular, saw a major revision. Employers were found to have added 21,000 jobs that month, compared with the Labor Department’s earlier estimate of a 23,000-job decline.
\n\nThe strong report was welcomed by President Donald Trump, who highlighted the figures in a social media post just two months before the US midterm elections.
\n\n“Great jobs number just announced, breaking all estimates (except mine!) by double and triple – And you haven’t seen anything yet!” Trump wrote.
\n\nThe rebound comes as inflation remains a major concern for US households and businesses. Rising…
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