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Jobs Report Shows U.S. Labor Market Cracking But Not Crumbling

  • Payroll gains trail forecasts as census boosts headline number
  • Details show consumption may keep powering economic growth
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U.S. nonfarm payrolls fell short of expectations with an increase of 137,000 in August.Daybreak: Americas." (Source: Bloomberg)
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Weak August job gains signaled the U.S. labor market’s slowdown is deepening as the trade war with China takes a toll on the economy, even as some details of the report suggested a recession is far from imminent.