Payrolls in U.S. Cool in August as Jobless Rate Holds Steady
- Wage gains moderate, while labor-participation rate unchanged
- Fed will weigh data as it debates interest-rate increase
Is the Fed Behind the Curve?
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U.S. payrolls grew at a slower but solid pace in August while measures of labor slack were little changed, signs the job market is cooling as the economy approaches full employment.
Payrolls climbed by 151,000 last month following a 275,000 gain in July that was larger than previously estimated, a Labor Department report showed Friday in Washington. The median forecast in a Bloomberg survey called for 180,000. The unemployment rate and labor participation rate held steady, while wage gains moderated and hours worked were the lowest since 2014.