Hiring roars back in August

U.S. employers sped up their hiring in August, reversing several months of slowing gains. Some 201,000 jobs were added, with the unemployment rate holding steady at 3.9 percent. 

Wage growth accelerated, with hourly earnings rising 2.9 percent year-over-year. Economists have been puzzled by wage growth that has appeared stuck between 2 and 2.5 percent, despite historically low unemployment.

“We’re finally seeing wage gains for some low-paid workers. These include things like baristas, cashiers and bank tellers, and I think that’s helping boost that average wage number,” said Andrew Chamberlain, chief economist at the job search site Glassdoor.

Economists had expected about 190,000 jobs to be added.