US employment in August increased significantly more than expected, showing signs of economic recovery. Non-farm jobs increased by 162,000 from the previous month, three times the expert forecast. Job growth was particularly notable in food service and drinking places, as well as state and local government education. The unemployment rate remained at 4.1%, and the average hourly wage rose 0.3% from the previous month. This employment report increased the likelihood of the Fed raising interest rates in September, but next week's release of the August consumer price index is expected to have a greater impact on interest rate decisions.
