Hiring eased in August, as employers added a still robust 315,000 jobs, while the unemployment rate rose 0.2 percentage points to 3.7%.
Job gains occurred in professional and business services, health care and the retail trade, while average hourly earnings rose by 10 cents to $32.36, according to the Bureau of Labor Statistics.
But hiring slowed from the previous month, when 526,000 jobs were added. The slower growth could help assuage concerns that an overheated economy will worsen inflation. The Federal Reserve has been raising rates amid concerns that it will send the economy into a recession.
More to come.
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