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U.S. Job Growth Slows, Unemployment Rate Falls to 5.1 Percent

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U.S. job growth rose less than expected in August, which could dim prospects of a Federal Reserve interest rate hike later this month, even as the unemployment rate dropped to a near 7-1/2- year low of 5.1 percent and wages accelerated. the Labor Department said on Friday, Nonfarm payrolls increased 173,000 last month as the manufacturing sector lost the most jobs since July 2013, after an upwardly revised 245,000 rise in July. It was the smallest gain in employment in five months.

Added on the 04/09/2015 08:21:23 - Copyright : Wochit

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