U.S. Adds 151,000 Jobs in August, Jobless Rate at 4.9%

The August jobs report shows a steady unemployment rate of 4.9% and slower wage growth at 2.4%, leading to a disappointing outcome compared to economists' expectations. The report casts doubt on a potential rate hike by the Fed. Job growth fell short by nearly 30,000, and revisions to June and July data resulted in a net decrease of 1,000 jobs. Key data points include a household employment increase of 97,000, unchanged labor participation at 62.8%, and a manufacturing payroll decrease of 14,000. The main question remains whether this data justifies a rate hike in September.

What was the significant change in manufacturing payrolls reported?

What is the main takeaway from the August jobs report according to the text?