The US economy added a stronger-than-expected 162,000 jobs in August

By Alicia Wallace, CNN

(CNN) — Hiring surged in August as the US economy added 162,000 jobs and unemployment stayed at 4.1%, new data from the Bureau of Labor Statistics showed Friday.

Economists were expecting a net gain of 65,000 jobs last month and that the unemployment rate would tick up to 4.2%.

The US labor market remains stable – though in a low-momentum and unbalanced state – despite growing headwinds, which include an aging population, the rapid adoption of AI, higher oil prices, policy uncertainty and the war with Iran.

This is a developing story and will be updated.

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