August Jobs Gain Triples Forecast to 162,000 — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- August payrolls added 162,000 jobs, more than triple economists' expectations and the largest monthly gain since March's 214,000, with unemployment steady at 4.1%.
- Revisions to June and July added a combined 55,000 jobs, flipping July from a reported 23,000-job loss to a 21,000-job gain and lifting the three-month average from 20,000 to 71,000.
- Bars and restaurants added a surprising 59,000 jobs after the World Cup ended, while manufacturing continued its late-2025 upward trend with another 16,000 positions.
- The information sector shed 23,000 jobs in August and 115,000 over the past year, deepening a contraction that includes tech infrastructure, publishing, and media roles.
- Local government education added 42,000 jobs in August, largely reversing July's decline and pointing to seasonal volatility rather than a demand shock, per Axios's analysis.
- Fed Chair Kevin Warsh said last week that labor markets are 'consistent with full employment,' and the August data affirms his view that inflation — not jobs — is now the central question for the September 15–16 meeting.
- August's PPI (Thursday) and CPI (Friday) have taken on heightened importance, since economists can use them to estimate the Fed's preferred PCE measure due September 30.
Why it matters: With the labor market now looking stronger than the summer suggested, Fed hawks have fresh ammunition to push for a rate hike at the September 15–16 meeting, but the article makes clear that next week's inflation prints — not this jobs report — will settle the decision, as the economy sits near full employment with inflation in its sixth year above the 2% target.
Ask SkimNews
