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US economy added 173,000 jobs in August

  • The US added 173,000 jobs last month, according to the Department of Labor, lower than the figure of 217,000 analysts had predicted.

    However, the figures for August may be revised upwards later.

    The unemployment rate dropped from July’s 5.3% to 5.1% in August, making it the lowest rate since April 2008.

    Meanwhile, the revised figure for jobs created in July is 245,000.

    Experts say that the Fed is unlikely to increase rates this month.

     

     

    Tagged as: US economy, Department of Labor, US jobs, employment rate, business news