US Economy Adds 162,000 Jobs in August

The U.S. Bureau of Labor Statistics reported that total nonfarm payroll employment increased by 162,000 in August, with the unemployment rate holding steady at 4.1 percent.

The job gains were concentrated in food services and drinking places and local government education, while the information industry experienced losses.

Average hourly earnings for all private employees rose to $37.75, a 0.3 percent increase over the month and a 3.1 percent rise over the year.