WASHINGTON (MarketWatch) — The pace of hiring in the U.S. slowed sharply in August after huge gains earlier in the summer, a downshift that’s likely to spur the Federal Reserve to keep interest rates at current low levels until after the presidential election.
The economy added 151,000 jobs last month, below the 170,000 forecast of economists surveyed by MarketWatch. Wages also grew more slowly than expected.
“The August employment report underwhelmed expectations,” noted Scott Anderson, chief economist at Bank of the West.
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