00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The U.S. added 162,000 jobs in August, far exceeding economists' expectations of 53,000,
00:10while the unemployment rate held steady at 4.1%, according to the Wall Street Journal.
00:16The stronger report followed weak hiring in June and July, both of which were revised higher.
00:21Food services and drinking places added 59,000 jobs, while local government education gained 42,000.
00:28Manufacturing and healthcare also added jobs, while information and finance lost positions.
00:34Average hourly earnings rose 3.1% from a year earlier, trailing July's 3.4% inflation rate.
00:40Investors increased expectations for a Federal Reserve rate hike, pushing the two-year Treasury yield higher.
00:46The Dow, S&P 500, and NASDAQ Composite all fell following the report.
00:52For all things money, visit Benzinga.com.
