Jobs growth brakes in August, seen forcing Fed's hand - Yahoo! Finance
Jobs growth slowed more than expected in August, setting the stage
for the Federal Reserve to pump additional money into the sluggish
economy next week and dealing a blow to President Obama as he seeks
reelection in November.
Nonfarm payrolls increased only 96,000 last month, the
Labor Department said on Friday. While the unemployment rate dropped to
8.1 percent from 8.3 percent in July, it was largely due to Americans
giving up the search for work.
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