US payrolls jump 162,000 in August, beating forecasts as unemployment holds at 4.1%

The U.S. economy has shown positive results in August, putting a brake on the summer slowdown, with unemployment standing at 4.1%.

The nonfarm payrolls added 162,000 jobs for the month of August, while the unemployment rate remained unchanged, according to the latest figures released by the Bureau of Labour Statistics.

The nonfarm payroll is referred to as the total number of paid U.S. workers, excluding employees in farming, private households, non-profit organisations and active duty service members.

It is also viewed as a key indicator to evaluate the health of the U.S. job market.

August posted the strong outlook since March, as many economists have predicted a payroll would rise to 53,000.

To determine the unemployment rate, the household survey is used as a key contributor, as in August figures it showed a total employment increase of 569,000 and a jump of 683,000 into the labour market.

In addition to the August figures, the previous months' numbers were revised upward: July posted a gain of 21,000 jobs, turning positive after a loss of 23,000, while June was revised up to a gain of 31,000, per the bureau's released data on Friday, September 4.

While the AI sector impacted the employment numbers: IT-related industries reported a loss of 23,000, bringing the 12-month average to a loss of 8,000.