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US Hiring Rises Unexpectedly But Labor Market Shows Signs Of Cooling

Posted on AllSides September 1st, 2023
From The Center

Hiring in the United States logged a surprise jump last month, government data showed on Friday, but unemployment rose to the highest level since early 2022 as the economy shows signs of cooling.

The world's biggest economy added 187,000 jobs in August, according to the Labor Department, but wage growth slipped and the jobless rate climbed to 3.8 percent.

The uptick in job gains came as employment figures for June and July were both revised downwards, and the numbers overall signal a steady pace of hiring while the labor market...

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