U.S. Hiring Slows As Employers Add Just 315,000 Jobs In August

The August Jobs report revealed an addition of 315,000 jobs, slightly below Wall Street's expectation of 318,000. The unemployment rate rose to 3.7% from 3.5%. Significant job gains were seen in professional services, healthcare, and retail trade. The report was anticipated to be lower due to the Federal Reserve's interest rate hikes. The White House had also expected a cooling in job data. This report is crucial for the Fed's upcoming meeting, where another interest rate hike is expected to control inflation. Overall, the labor market shows signs of cooling but remains stable.

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