The report released moments ago by the US Bureau of Labor Statistics showed that total non-farm payrolls (NFP) increased by 162,000 in August, compared to a loss of 23,000 jobs in July. This exceeded expectations of a 55,000 increase.

Meanwhile, the unemployment rate remained stable at 4.1% in August, while the labor force participation rate rose to 61.6% from 61.4%.

The average hourly earnings rose by 0.3% in August, on a monthly basis from 0.1%, and increased year-over-year to 3.1%, compared to 3.2% in July. In terms of sectors, the goods production sector added 41,000 jobs, while the manufacturing sector added 16,000 jobs, and the construction sector added 22,000 jobs. In contrast, the private services sector added 127,000 jobs in August, led by the health care and social services sector, which added 28,000 jobs, while the professional and business services sector added 10,000 jobs.