US jobs report smashes forecasts; shares in Falklands oil explorers plunge as Argentina threatens sanctions – as it happened
Newsflash: Hiring has surged across the US economy.
Employment surged by 162,00 in August, much stronger than the 56,000 new hires expected, the latest non-farm payroll report shows.
The US Bureau of Labor Statistics reports that employment increased in food services and drinking places and in local government education, while the information industry lost jobs.
And in another important development – the US did not shed jobs in July, as first reported.
The BLS reports that there were 44,000 more jobs than it previously estimated in July – meaning employment rose by 21,000, rather than falling by 23,000.
The change in total nonfarm payroll employment for June was revised up by 11,000, from +20,000 to +31,000, too.
But it might cause some on the Federal Reserve to ponder whether the labor market might be strong enough to handle higher interest rates….
Source: The Guardian. Summary reproduced for informational purposes.
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