Jobs
US Jobs Report Signals Smooth Downshift in Labor Market
- Still-solid hiring, slower wage growth gives Fed room to pause
- More people returned to the labor force but couldn’t find jobs
Commuters in New York.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
The latest US job data showed a labor market undergoing a controlled cooling, illustrated by solid hiring, slower earnings growth and more people returning to the workforce.
Employers in August added 187,000 jobs in a broad-based advance, following downward revisions to payrolls in the prior two months, government figures showed Friday. Hundreds of thousands more joined the labor force, though a growing number was unable to find work right away.