Employers added 162,000 jobs in August and the national unemployment rate remained unchanged at 4.1%, the U.S. Bureau of Labor Statistics reported on Friday.
The job gains in August were five times higher than the average monthly gain of 31,000 jobs over the prior 12 months.
In August, employment increased in food services and drinking places rose by 59,200 jobs, and local government education added 41,900 jobs. Manufacturing added 16,000 jobs and healthcare added 12,900 jobs.
The information industry, however, lost 23,000 jobs in August, which was more than double the average monthly loss of 8,000 jobs the industry has seen over the past 12 months. Other industries showed no statistically significant employment changes in August.
Average hourly earnings for all employees on private payrolls rose by 10 cents, or 0.3% to $37.75. Over the past year, average hourly earnings have risen 3.1%, slightly below the 3.4% annual inflation rate recorded in July. The August inflation report will be released on Sept. 11.
In Friday’s report, the government also updated its previously released employment figures for June and July. Nonfarm employment was revised upward by 11,000 jobs from 20,000 to 31,000. The figures for July were revised upward by 44,000 jobs from the previously reported loss of 23,000 jobs to a gain of 21,000 jobs.
These revisions mean there were 55,000 more jobs added in June and July than the government had previously reported.
Stocks changed little shortly after Friday's opening bell, as the stronger-than-expected jobs report raised expectations that the Federal Reserve may raise interest rates this month.
The CME FedWatch, which tracks market expectations for the Federal Reserve's interest-rate decisions based on federal funds futures trading, put the odds of an interest rate increase at 60.4% on Friday morning after the jobs report was released, up from 49.4.% the day before.
The Federal Open Market Committee, the committee within the Fed that makes the country's key monetary-policy decisions, will announce its decision on interest rates on Sept. 16.
