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Payrolls Rose 173,000 in August as Jobless Rate Drops to 5.1%

From bloomberg.com

Employers added 173,000 workers in August and the jobless rate dropped to 5.1 percent, a level that the Federal Reserve considers to be full employment. The gain in payrolls, while less than forecast, followed advances in July and June that were stronger than previously reported, the Labor Department said Friday. The unemployment rate is the lowest since April 2008. Average hourly earnings climbed more than forecast and workers put in a longer workweek, the report also showed. Persistent hiring indicates employers were upbeat about America’s demand prospects leading up to mounting concerns of further deterioration in ... (full story)

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