US economy adds 162,000 jobs in August amid manufacturing rebound

The United States added 162,000 new jobs in August, with notable growth in the manufacturing sector. The latest employment data also shows an increase in the workforce participation rate, indicating that more individuals are re-entering the labor market.

Blerina Uruci, chief U.S. economist at T. Rowe Price, described the report as “very good,” suggesting that broader financial conditions may not be as tight as previously feared. This economic trend comes ahead of the midterm elections, occurring approximately two months from now.