All eyes were on the US labor market, and the latest check-up shows its diagnosis was not as bleak as some feared: Job growth returned to solid form in August, and unemployment trended back down after a concerning jump.

U.S. employers added a disappointing 142,000 jobs in August as hiring bounced back only partly after temporary hurdles curtailed payroll gains the previous month and sparked recession fears. And employment gains for June and July were revised down sharply,