US Payrolls Rise 162,000 in August, Unemployment Holds Steady

The US labour market continued its steady growth in August, with nonfarm payroll employment increasing by 162,000. This is significantly higher than the average monthly gain of 31,000 over the previous 12 months.

The unemployment rate remained unchanged at 4.1 per cent, while the number of unemployed people changed little at 7 million in August. The labour force participation rate edged up to 61.6 per cent.

Machinery manufacturing and fabricated metal product manufacturing each added 6,000 jobs during the month. Healthcare employment rose by 13,000, although the gain was slower than its average monthly increase of 32,000 over the previous 12 months.