U.S. payrolls rose 162,000 in August, much more than expected; unemployment rate at 4.1%

The U.S. economy added jobs at a brisk pace in August, reversing a summer slowdown in hiring, while the unemployment rate held steady.

Nonfarm payrolls rose a seasonally adjusted 162,000 for the month while the unemployment rate, as expected, held steady at 4.1%, the Bureau of Labor Statistics reported Friday. Economists surveyed by Dow Jones had been looking for a payrolls increase of 53,000.