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August Unemployment Drops as Economy Adds 173,000 Jobs

hamilton-zanze September 03, 2015

The U.S. economy added 173,000 jobs in August, and the unemployment rate dropped to 5.1%, according to the U.S. Bureau of Labor Statistics. Average hourly earnings for all employees rose by 8 cents to $25.09, compared to July’s 6-cent gain.

Economists had predicted a slightly higher level, as employment growth has averaged about 247,000 new positions per month. Economists are undecided on whether this will affect the Fed’s expected September rate increase.

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