UNITED STATES, WASHINGTON (OBSERVATORY) — US job growth slowed more than expected in August as retail employment fell for a seventh straight month, but gains in wage increases should boost consumer spending and keep the economy growing moderately amid growing threats of trade tensions.
The monthly job report, released by the US Labor Department on Friday and closely monitored, showed a recovery in the working week as manufacturers increased working hours for workers after cutting them in July.
Non-farm payrolls rose 130,000 last month, the government said. The economy provided 20,000 jobs less in June and July than in previous estimates. Economists polled by Reuters had expected jobs to rise by 158,000 in August.
Job growth has averaged 156,000 over the past three months but remains above the 100,000 needed monthly to keep pace with the growth of the working-age population.
The unemployment rate was little changed at 3.7 percent for the third consecutive month as more people entered the labor market.
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