- The U.S. economy added fewer jobs than expected in August, but the low unemployment rate points to a continued moderate slowdown in the labor market, which may not warrant a major interest rate cut at the Federal Reserve's meeting this month.
- The Labor Department data showed that the US economy added 142,000 jobs in the non-agricultural sectors during last August, less than the expectations of 164,000 jobs.
- The data also revised down the number of jobs recorded in July to 89,000.
- The Labor Department data also revealed that the private non-farm sector added 118,000 jobs, less than the expectations of 139,000 jobs, and the data recorded in July was also revised down to 74,000 jobs.
- The lower-than-expected increase in jobs does not likely indicate a deterioration in labor market conditions.
- The unemployment rate in the United States, the world's largest economy, also fell to 4.2% in August, in line with expectations, from 4.3 in July.
