Job growth slowed sharply in August, the Labor Department said Friday. Total nonfarm payrolls increased by 96,000, lower than the 125,000 gain expected by Wall Street economists. Adding to the sense of weakness, job growth in the past two months were revised down by 41,000. The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force. Economists forecast the unemployment rate to hold steady at 8.3%. Average hourly earnings were flat at $23.52. Earnings
U.S. August nonfarm payrolls up 96,000
August jobless rate 8.1% vs. 8.3% expected
August payroll gain below rise 125,000 expected
June, July payrolls revised down by 41,000
August private payrolls up 103,000
August factory jobs down 15,000
August hourly earnings flat, up 1.7% yr-on-yr
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