US economy adds 288,000 jobs as forex rally gains in the first week of August
US economy added 288,900 jobs in the week ending August 10, data showed on Wednesday, the latest sign of gains from the first three months of the year.
The jobs report, which also showed an uptick in the retail sector, came as the Fed moved to tighten monetary policy by reducing its benchmark interest rate from 2 percent to 1.75 percent.
It also added to signs that the recovery from the Great Recession has continued, with the labor force participation rate rising to 65.9 percent, which was the highest since 2008.
Economists surveyed by Reuters had forecast job growth at 260,000 in August.
But the unemployment rate rose to 5.9% on the week.
The U.S. economy has seen its biggest annual expansion in almost three decades.
The data will be released at 1:30 p.m.
The U.K. was the last major advanced economy to report its August jobs data.
The data was revised up from an earlier version that had the unemployment report revised to 259,000.