Gulf Today
A job seeker fills out a request for information during the HIRE360 Diversity Hiring Expo & Mega Career Expo at the Carson Event Center on June 30, 2026, in Carson, California. The U.S. economy added jobs at a brisk pace in August, reversing a summer slowdown in hiring, while the unemployment rate held steady at 4.1%. Nonfarm payrolls rose a seasonally adjusted 162,000 for the month, surpassing expectations of 53,000.
This was the strongest monthly gain since March. The report aligns with Federal Reserve officials' assessment of a stable labor market, shifting focus to next week's inflation numbers before the interest rate decision. Policymakers monitor the unemployment rate closely, which has been steady at 4.1% for several years and is down 0.2 percentage points from a year ago.
Prior months saw upward revisions: July showed a gain of 21,000 jobs (previously a loss of 23,000), and June was revised up to 31,000 (an increase of 11,000). Job gains were broad-based, with restaurants and bars adding 59,000 jobs, government education rising by 42,000, and manufacturing contributing 16,000. Health care saw a modest gain of 13,000, below the prior 12-month average of 32,000.
Information-related industries reported a loss of 23,000 jobs, with a 12-month average loss of 8,000, indicating some impact from artificial intelligence.
Source: CNBC
