U.S. nonfarm payrolls rise less than expected; wage growth moderates

September 2, 2016 12:36 PM

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U.S. nonfarm payrolls rise less than expected; wage growth moderates

WASHINGTON, Sept 2 U.S. employment growth slowed more than expected in August after two straight months of robust gains and wage gains moderated, which could effectively rule out an interest rate increase from the Federal Reserve this month.

Nonfarm payrolls rose by 151,000 jobs last month after an upwardly revised 275,000 increase in July, with hiring in manufacturing and construction sectors declining, the Labor Department said on Friday. The unemployment rate was unchanged at 4.9 percent as more people entered the labor market.

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

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