CNN: August Jobs Report ‘Did Crush Expectations’ and These Are High Paying Jobs

EXCERPT:

EGAN: "Look, it‘s nice to be here on this Friday morning with some good news on the economy because yeah, this report, it did crush expectations. So, the forecast from economists was for a gain of just 65,000 jobs in August. But look at this: 162,000, as you mentioned, more than doubling the forecast. Unemployment rate was supposed to go up a tick, to 4.2. it didn‘t. It stayed at a low level of just 4.1%. And there were significant revisions in the positive direction for both June and July. In particular, July was originally reported as a small loss of jobs. But now, as this chart shows, there‘s been a small gain in jobs in July. This shows how volatile the trend has been month to month. There‘s been a few months of job loss over the last year, year and a half or so, but again, it‘s nice to see an increase. In fact, this was the most jobs the economy has added in a single month since March. So, where are the jobs? Well, that was another positive here, is that the job growth has been more widespread than in the past. Leisure and hospitality adding 62,000 jobs. That was mostly bars and restaurants. And that‘s a big improvement from July when there was this World Cup hangover and a significant amount of jobs that were lost. Government, 35,000. That‘s all schools, public schools, local government education significantly increased in jobs in August. And that likely reflects a bounce back, because in July there was job loss there, probably related to some shifts in school calendars and struggles to try to capture all of that in the BLS models.”