US unemployment rate rises while wage growth cools as labour market slows
A rise in the unemployment rate indicates the US Federal Reserve will keep rates on hold at its meeting later this month
WASHINGTON — US job growth picked up in August, but the unemployment rate jumped to 3.8% and wage gains moderated, suggesting that labour market conditions are easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
The closely watched employment report from the Labour Department on Friday also showed 736,000 people entered the job market last month, boosting the participation rate to the highest level in 3-1/2 years...
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