The US economy added 162,000 jobs in August, marking an increase after a period of slower growth in the labour market. Data from the Bureau of Labor Statistics (BLS) indicates the unemployment rate remained at 4.1%.
This August figure follows fluctuations in job creation, with a gain of 21,000 in July and 214,000 in March. Revisions to earlier data show job growth in June was 31,000 and July's initial reported loss was revised to a gain of 21,000.
Economists had anticipated at least 50,000 new jobs for August. Earlier reports from payroll firm ADP indicated private companies added 38,000 jobs, the lowest monthly figure since January. The labour market is described by economists as being in a "slow hire, slow fire" state, with little change in job openings or layoffs in July, according to a separate BLS report.
Persistent inflation, which has seen the annual rate rise from 2.4% in February to 3.4% in July, is contributing to economic concerns. This has led to a sell-off in the US bond market, with rising yields for US Treasury bonds suggesting investor worries about the economy's long-term health.