August Jobs Report Blows Past Forecasts, Putting a September Fed Rate Hike Back on the Table

The U.S. economy added 162,000 jobs in August, more than triple Wall Street’s forecast, giving the Federal Reserve more room to raise interest rates despite President Donald Trump’s escalating demands for cuts. Hiring Rebounds After a Weak SummerNonfarm payrolls increased by 162,000 in August, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones had expected just 53,000 new jobs. The unemployment rate held steady at 4.1%, even as the labor force expanded by 683,000 people and the participation rate rose to 61.6%. Previous months also looked stronger after revisions. June payroll growth was raised from 20,000 to...