US nonfarm payrolls beat forecasts, unemployment rate at 4.1%

Nonfarm payrolls surged by 162,000 in August in the US, well above the market expectation of a 55,000 increase, the US Bureau of Labor Statistics reported Friday, while the unemployment rate was at 4.1% in August, in line with market expectations.

The number of unemployed individuals changed little at seven million in the world's largest economy.

Employment in food services and drinking places increased by 59,000 in August, well above the average monthly gain of 12,000 over the prior 12 months.

Local government education added 42,000 jobs last month, while employment in manufacturing continued its upward trend with 16,000 additions.

On the other hand, the information industry lost 23,000 jobs in August.

Average hourly earnings for all employees on private nonfarm payrolls rose by 10 cents, or 0.3%, to $37.75.

Over the past 12 months, average hourly earnings increased by 3.1%.