United States: Hiring Remains Strong

According to today’s establishment survey, the US economy added 315,000 jobs in August after an increase of 526,000 in July (revised from 528,000) and 293,000 in June (revised from 398,000). The unemployment rate saw its first monthly increase since January, rising from 3.5% to 3.7%. When combined with other indicators—like August’s better-than-expected results for the Manufacturing PMI and consumer confidence—job creation indicates that economic activity remains resilient in the United States. This leaves the door open to further rate hikes by the Federal Reserve.