ROUNDUP: US labor market continues to cool down

WASHINGTON (dpa-AFX) – In the USA, the situation on the labor market has continued to weaken. The US economy created fewer jobs in August than expected. The increase in employment in the previous two months was also revised downwards. The unemployment rate fell slightly as expected after reaching its highest level since October 2021 in July. Meanwhile, hourly wages rose slightly more than economists had predicted.

The number of new jobs rose to 142,000 in August, as the US Department of Labor announced in Washington on Friday. However, the number of new jobs for the previous two months was revised significantly downwards, by 86,000. In addition, analysts had on average expected a stronger increase in jobs in August of 165,000.