August US jobs data misses but jobless rate holds

06 September 2019

 

The US economy continues to produce more jobs despite being close to full employment. The unemployment rate has remained at or under 4% since April 2018 while annual increases in hourly pay have remained above 3% for eleven consecutive months. This latest employment report indicates the US still has an expanding labour market, in spite of international trade worries and a central bank which has just cut its official rate....

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