Red Lake Nation News - Babaamaajimowinan (Telling of news in different places)

US hiring slows to 151K jobs in August; Fed hike less likely


WASHINGTON — U.S. employers slowed their hiring in August and barely raised wages. They added a modest 151,000 jobs, about half the blockbuster gains of the two previous months.

The slowdown in job growth reduces the likelihood that the Federal Reserve will raise interest rates when it meets later this month.

The unemployment rate remained 4.9 percent for a third straight month, the Labor Department said Friday in its monthly jobs report.


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