August Jobs Report: A Record Beat That May Mask Underlying Weakness
The U.S. economy added 162,000 jobs in August, a figure that represents the largest monthly gain in nearly 30 years. While the unemployment rate held steady at 4.1%, analysts suggest the headline number may overstate the true health of the labor market. The report coincides with rising mortgage rates, complicating the Federal Reserve's upcoming interest rate decisions amid persistent inflation.