Ahead of a key Federal Reserve meeting later this month to set interest rates, total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate changed little at 4.2%, the U.S. Bureau of Labor Statistics reported Aug. 6. The gains were weaker than forecasted predictions of 161,000 jobs, but were better than July’s showing of 114,000. The numbers from the last two months indicate that the labor market is cooling faster than anticipated.
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