US Jobs Report Surprises with Unexpected Gains
The US economy added 162,000 jobs in August, exceeding analysts' forecasts of around 56,000. The unemployment rate remained unchanged.
Public schools and food services led the gains in the job market, with public schools accounting for nearly 42,000 of the new positions as the 2026-27 school year begins across much of the country.
The data was a welcome surprise ahead of the US Federal Reserve's policy meeting later this month. The FedWatch tool, which tracks the likelihood of monetary policy decisions, showed a 60% chance of a 25 basis point rate increase to 3.75-4.00%, up from 49% on Thursday.
US President Donald Trump was quick to comment on the jobs report and push for rate cuts, saying 'Lower the interest rates because the U.S.A. is a much stronger credit than it was a short time ago!'