U.S. employment increased by the most in eight months, soaring past expectations.
Nonfarm payrolls increased by 336,000 jobs last month, the largest rise since January. Jobs added were almost double estimates. The unemployment rate was unchanged at an 18-month high of 3.8 percent.
The broad increase in payrolls was led by the leisure and hospitality industry, which added 96,000 jobs. Restaurants and bars dominated, with 61,000 positions created, returning employment in the sector back to its pre-pandemic level.
Government employment increased by 73,000 jobs. Wage gain moderated, and it was likely because most of the jobs added last month were in lower-paying industries.
