U.S. adds 162,000 jobs in August as women account for 98% of gains

  • U.S. employers added 162,000 nonfarm jobs in August, according to the Bureau of Labor Statistics.
  • Women accounted for about 98% of the August net employment gain, a CNBC analysis showed.
  • June job openings were revised down by 177,000 to approximately 7.2 million.

The U.S. economy added 162,000 nonfarm jobs in August, nearly three times economists’ forecast of 56,000, according to the Bureau of Labor Statistics. Private employers contributed 127,000 positions and government payrolls increased by 35,000, while the unemployment rate remained at 4.1%. The gain followed a revised July increase of 21,000 jobs, compared with an initial estimate showing a 23,000 decline. Anthony Pompliano, CEO of Professional Capital Management, highlighted a CNBC analysis indicating that women accounted for about 98% of the net employment gain. He said attention had centered on sectors such as healthcare and education, but argued that immigration was also part of the underlying story, an angle also discussed by TMT Long/Short. Separately, The Kobeissi Letter pointed to repeated downward revisions in job-openings data. June openings were cut by 177,000 to about 7.2 million, while June hires fell by 16,000, quits by 19,000, and layoffs and discharges rose by 19,000. Openings had been revised lower in 38 of the previous 43 months, leading the commentator to say the data was becoming increasingly difficult to interpret confidently.

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