However, the unemployment rate was 3.8%, up significantly from July and the highest since February 2022.
Allison Joyce / Bloomberg via Getty ImagesThe U.S. added more jobs than expected in August, a sign of resilience for a labor market under pressure from Federal Reserve interest rate hikes.
Nonfarm payrolls grew by a seasonally adjusted 187,000 for the month, above the estimate for 170,000, the U.S. Bureau of Labor Statistics reported Friday. That increase came as the labor force participation rate increased to 62.8%, the highest since February 2020, just before the Covid pandemic declaration.
Average hourly earnings increased 0.2% for the month and 4.3% from a year ago. Both were below respective forecasts of 0.3% and 4.4%.
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