August jobs report shows U.S. added 162,000 jobs, more than double economists' forecasts

TL;DR

U.S. employers added 162,000 jobs in August, surpassing economists' forecast of 65,000.
The unemployment rate remained unchanged at 4.1% in August.
Job gains were strongest in food services and bars (59,000) and local government education (42,000).
Wage growth slowed to 3.1% in August, the lowest since May 2021.
The August jobs report may increase the likelihood of a Federal Reserve interest rate hike, but inflation data will be crucial.
The Labor Department revised June and July payroll gains upward by a total of 55,000.

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