U.S. job growth slows, unemployment rate falls to 5.1 percent

September 4, 2015 12:36 PM

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U.S. job growth slows, unemployment rate falls to 5.1 percent

WASHINGTON U.S. job growth rose less than expected in August, which could dim prospects of a Federal Reserve interest rate hike later this month, even as the unemployment rate dropped to a near 7-1/2- year low of 5.1 percent and wages accelerated.

Nonfarm payrolls increased 173,000 last month as the manufacturing sector lost the most jobs since July 2013, after an upwardly revised 245,000 rise in July, the Labor Department said on Friday. It was the smallest gain in employment in five months.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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