US economy adds 162,000 jobs in August, beating forecasts

The US economy added 162,000 jobs in August versus expectations of 55,000. The unemployment rate was 4.1%, matching forecasts. July’s jobs figure was revised up by 43,000, turning positive for that month. The report indicates stronger-than-expected labor market conditions, which can increase the likelihood of tighter financial conditions or delay rate cuts, historically a headwind for risk assets including crypto.