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U.S. employers add 173,000 jobs in August; unemployment rate falls to 5.1%

U.S. employers add 173,000 jobs in August; unemployment rate falls to 5.1%

Job growth unexpectedly slowed last month to a modest 173,000, but the unemployment rate fell to a post-Great Recession low and average wages posted their biggest gain since January, the Labor Department said Friday. The report sent mixed messages to Federal Reserve policymakers, who are trying to decide if the labor market and, more broadly, the economy are strong enough to handle the first increase in a key interest rate since 2006. The low headline number was well below analyst expectations for 223,000 net new jobs, and down from July's strong 245,000 figure. But growth for June and July was revised up by a total of 44,000 net new jobs. That means the economy has added...

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