Jobs grow as diesel prices add to U.S. inflation concerns

U.S. employers added 162,000 jobs in August, while the unemployment rate held at 4.1%, signaling continued labor-market growth. Job gains came in restaurants, bars and public schools, while information-technology employment fell by 23,000.

Diesel prices reached a record high Friday and have risen 55% since late February, according to AAA. Higher fuel costs could add pressure to trucking, agriculture and construction expenses as consumer inflation stood at 3.3% in July.

Average hourly earnings rose 3.1% from a year earlier, trailing inflation and suggesting many workers’ pay is losing purchasing power. The data will factor into the Federal Reserve’s interest-rate decision later this month.

Read the full story at dailysabah.com.