The US added 173,000 jobs in August, the Department of Labor said on Friday, in the last unemployment report before September’s interest rate decision by the Federal Reserve.
That was below the 217,000 predicted by analysts, although the Labor Department said that figures for August tend to be revised higher subsequently.
The unemployment rate fell to 5.1% – down from the July figure of 5.3%.
The rate is the lowest since April 2008.
Wall Street headed lower following the numbers, with the S&P 500 falling 1.3% and the Dow Jones industrial average shedding more than 200 points or 1.2%.
European stock markets, which had been trading lower before the data was released, extended their losses, with the FTSE 100 in London down 2% and indexes in Paris and Frankfurt dropping about 2.5%.
Source:BBC
Related Posts
Dominica to implement measures to cushion impact of Middle East war on local economy
Prime Minister Roosevelt Skerrit shared that we are exposed to the economic…
