‘Wow’: Economy Adds 162,000 Jobs in August 2026
Economists expected the economy to add only 53,000 jobs.
The August 2026 jobs report blew all expectations out of the water.
Economists expected the economy to add only 53,000 jobs.
Well…the report shows the economy added 162,000 jobs:
- Food services and drinking places: +59,000
- Local government education: +42,000
- Manufacturing: +16,000
- Health care: +13,000
- Information: -23,000
- Construction: +22,000
Other major industries showed little change: mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; financial activities; professional and business services; and social assistance.
Unemployment remained steady at 4.1%, leaving “it at a historically low level that indicates the labor market remains generally healthy.”
“What a ‘wow’ jobs report,” said Heather Long, the chief economist at the Navy Federal Credit Union, told CBS News. “The hiring rebound in education was expected as teachers head back to work, but it was encouraging to see the bounce back in hospitality as well, especially restaurants.”
The six-month hiring average has skyrocketed.
With the latest figures, the six-month hiring average is up to 107,000 and 106,000 for all employers and private-sector employers, respectively. These are the highest levels in more than two years. pic.twitter.com/xrw1qtTxh6
— Nick Timiraos (@NickTimiraos) September 4, 2026
Average hourly earnings for all employees rose by 10 cents in August. Those earnings are up 3.1% over the year.
The labor participation rate hit 61.6%, but remains 0.5% down since January.
I’ve always told you guys that revisions are an important part of each jobs report.
June and July had an awful jobs report, but the revisions tell a different story. It’s still not great, but not as bad:
The change in total nonfarm payroll employment for June was revised up by 11,000, from +20,000 to +31,000, and the change for July was revised up by 44,000, from -23,000 to +21,000. With these revisions, employment in June and July combined is 55,000 higher than previously reported. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
Trump once again called on the Federal Reserve to cut the rates:
Great jobs number just announced, breaking all estimates (except mine!) by double and triple – And you haven’t seen anything yet! EMPLOYERS ADDED 162,000 JOB IN AUGUST. Lower the interest rates because the U.S.A. is a much stronger credit than it was just a short time ago! A STRONG COUNTRY MEANS A LOWER INTEREST RATE – IT’S A BETTER CREDIT…Very simple! We should have the LOWEST RATE of any country in the World, like “the old days.” Without the United States agreeing to allow them their big surpluses, and we could stop that immediately, they would no longer be considered financially ELITE! LOWER THE RATE OR I’LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT, which the U.S. Supreme Court, in its ridiculous and very costly Tariff decision, strongly acknowledged “the President” has an absolute right to do. IT’S BETTER THAN TARIFFS! The Fed Board, with its great new leader, must get smart – BE PATRIOTS for a change. High interest rates put the U.S.A. at a very unfair disadvantage, and I won’t allow that to happen! President DONALD J. TRUMP
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Comments
Is good that there is job growth – though government jobs should have declined – albeit school started so that may explain the increase.
That being said the job report data has limitations in the data collection and is notably unreliable so dont be surprised by downward revisions.
That’s a when Democrats are in office. I expect these numbers to go up 🤣
The *Federal* job numbers are down, starting to look like pre-Biden when compared to non-Federal jobs. (Biden hired a lot of Feds in all areas to prop up his numbers) With the chopping that Trump did on entry including a lot of removing ’embedded’ political allies that had been converted to Civil Service, but with under a year in service so they could be terminated, and the flat-out firing of a lot of DEI departments, Federal jobs are way down, and it took a year for the many other positive things he did to counter the Biden years “Tax it, regulate it, crush it, demand political contributions.” The amount of damage Biden’s minions did in four years is staggering. It takes longer to build than destroy, and we’re building as fast as possible now that the roadblock has shuffled off to retirement.
Naysayers weep and gnash their teeth.