Business & Finance

US hiring rebounds with 162,000 jobs added as mortgage rates climb

August job growth surpassed forecasts despite slowing wage gains, while fuel prices and borrowing costs increased.

Updated Sep 5, 2026 · 14:18 UTC1 reports

The short version

U.S. employers added 162,000 jobs in August, substantially exceeding economic forecasts of 65,000.[Associated Press]
Wage growth slowed to a 3.1% annual pace, marking the lowest increase since May 2021, while job openings rose slightly to 7.27 million in July.[Associated Press]
Consumer pressures persisted as diesel reached a record $5.85 per gallon and the 30-year fixed mortgage rate climbed to 6.71%.[Associated Press]

Employers added 162,000 jobs in August, exceeding economists' expectations of 65,000.[Associated Press]
Average hourly wages increased by 3.1% year-over-year in August, representing the weakest annual gain since May 2021.[Associated Press]
According to the Labor Department, U.S. job openings rose to 7.27 million in July from a revised 7.18 million in June.[Associated Press]
According to Freddie Mac, the benchmark 30-year fixed mortgage rate climbed to 6.71% from 6.66% the previous week.[Associated Press]
U.S. diesel prices reached a record average of $5.85 per gallon.[Associated Press]
Nvidia is acquiring artificial intelligence software platform Hugging Face for $13 billion.[Associated Press]

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.