The Bureau of Labor Statistics (BLS) reported Friday that a massive number of jobs were created in August, substantially beating estimates.
The report showed that more than 162,000 jobs were created last month, nearly tripling economists’ expectations. The unemployment rate held steady at 4.1%
The White House released a short video late on Friday celebrating the positive economic news.
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The new jobs were largely in restaurants and bars (+59,000), manufacturing (+16,000), and healthcare (+13,000).
Local government education (K-12 schools) increased by 42,000 in August, but is actually an offset to the 50,000 job loss in the same industry in July. This is likely due to teachers leaving positions at the end of the school year in June, and then replacements getting hired in August as the new year starts up.
The BLS report also showed that 414,000 fewer people were stuck with part-time work when they wanted full-time employment. This paycheck booster is partnered with an hourly earnings increase of .3% in August, adding up to a total pay increase for hourly workers of 3.1% in 2026.
BLS also revised its June and July figures to show that 55,000 more jobs were created in those two months than previously reported. These adjustments occur as the bureau receives additional data and refines the data that it previously collected.
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