U.S. August payrolls rise 162,000, but seasonal adjustments may overstate gain

  • U.S. nonfarm payrolls increased by 162,000 in August despite seasonal-adjustment concerns.
  • 154,000 jobs were added unadjusted, versus an estimated 15,000 using last year’s factor.
  • August data may have limited value for benchmarking September labor-market trends.

U.S. nonfarm payrolls increased by 162,000 in August, but seasonal adjustments may have made the gain appear stronger than it was. Unadjusted employment rose by 154,000, a level similar to 2025, while applying the same seasonal adjustment factor used last year would produce an estimated increase of about 15,000. The comparison has prompted analysis that the headline August figure may have limited value as a benchmark for assessing September labor-market trends. Walter Bloomberg reported the figures on October 1.

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