U.S. Creates 151,000 Jobs In August; Unemployment 4.9%

The U.S. added 151,000 jobs in August, slowing sharply from earlier in the summer and probably pushing an expected increase in U.S. interest rates toward the end of the year. Economists polled by MarketWatch had predicted 170,000 gain in new nonfarm jobs. The unemployment rate was unchanged at 4.9%. A broader measure of unemployment known as U6 was flat at 9.7%, the government said Friday. Average hourly wages rose 0.1% to $25.73. Hourly pay increased 2.4% from August 2015 to August 2016, also a bit weaker than expected. Total employment gains for July and June, meanwhile, were barely changed. The government said 275,000 new jobs were created in July instead of 255,000. But June's gain was cut to 271,000 from 292,000.

Copyright © 2016 MarketWatch, Inc.