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9/4/2026

August Jobs Report Just Blew Past Every Forecast. That Might Be Bad News for Rate Cuts

US employers added 162,000 jobs in August, nearly tripling the 55,000 economists surveyed by Bloomberg had expected, the Labor Department reported Friday. The unemployment rate held steady at 4.1%. Heather Long, chief economist at Navy Federal Credit Union, summed up the reaction in three words on social media, calling it a huge report.

3 min read