The U.S. economy added 162,000 jobs in August and the unemployment rate held steady at 4.1 percent.
\n\nEconomists had expected the economy to add 55,000 jobs and the unemployment rate to tick up to 4.2 percent from 4.1 percent in July.
\n\nThe previous month’s reported job loss was revised away. The July estimate was revised up by 44,000, from a loss of 23,000 to a gain of 21,000. The June gain was revised up by 11,000 to 31,000. After these revisions, employment in June and July combined is 55,000 higher than previously reported.
\n\nThe private sector added 127,000 jobs in August, far more than the 53,000 expected. The prior month’s gain of 30,000 was revised up to 71,000.
\n\nManufacturing payrolls rose by 16,000, above the 5,000 estimated. The July estimate was revised up from a gain of 5,000 to a gain of 14,000. Durable goods added 15,000 jobs in August after adding 24,000 in July and 13,000 in June.
\n\nConstruction added 22,000 following an 18,000 gain in July. Construction has been increasingly in demand thanks to a data center building spree.
\n\nLeisure and hospitality unexpectedly added 62,000 jobs after contracting in July and June. Retail services added a slight 1,400…
Original source: https://www.breitbart.com/economy/
