Key Takeaways From the US August Jobs Report

• US added 162,000 nonfarm payrolls in August, exceeding all estimates in a Bloomberg survey.
• Anna Wong notes that non-seasonally adjusted job additions were only 154,000, a decrease from 200,000 last August.
• The perceived strength in the report is largely due to an 'unusually mild seasonal adjustment' by the BLS, not an increase in the underlying pace of job growth.

The US August jobs report showed 162,000 nonfarm payrolls added, topping all estimates. However, Bloomberg Economics' Chief US Economist, Anna Wong, suggests the underlying economy may not be as strong as the headline indicates, attributing the robust figure to an 'unusually mild seasonal adjustment' rather than genuine job growth.