US adds 162,000 jobs in August, raising Fed rate cut expectations

The United States economy has added 162,000 jobs in August, with large gains in local government education and food services.The unemployment rate remained unchanged, according to the monthly jobs report released by the US Department of Labor’s Bureau of Labor Statistics (BLS) on Friday.Recommended Stories list of 4 itemslist 1 of 4US labour market sheds jobs in July as labour force participation slumpslist 2 of 4CEO pay skyrockets in 2025 amid growing income inequality in the USlist 3 of 4US debt hits $40 trillion: Who does Washington owe and why does it matter?list 4 of 4US Fed chair warns inflation progress insufficient, hints at rate hikesend of listThe data was well above analysts’ expectations. Economists polled by Reuters had forecast 56,000 gains, the Wall Street Journal forecast 53,000, and Bloomberg had forecast 55,000, following a loss of 23,000 in July.Local government education, or public schools, accounted for nearly 42,000 of the jobs added as the 2026–27 school year begins across much of the US. Teachers typically fall off payrolls during the summer months when school is not in session.Food service jobs also saw large increases, with the sector adding 59,000 jobs fo...