clear
Tuesday May 31st, 2016 5:53PM

US employers add 142K jobs, fewest in 8 months

By The Associated Press
WASHINGTON (AP) -- U.S. employers added just 142,000 jobs in August, snapping a six-month streak of hiring above 200,000 and posting the smallest gain in eight months.<br /> <br /> The unemployment rate fell to 6.1 percent from 6.2 percent, the Labor Department said Friday. But the rate dropped because more people without jobs stopped looking for one and were no longer counted as unemployed.<br /> <br /> Employers also added 28,000 fewer jobs in June and July than the government had previously estimated.<br /> <br /> The weaker-than-expected figures make it unlikely that the Federal Reserve will speed up its timetable for raising interest rates. Most analysts expect the first rate hike around mid-2015.<br /> <br /> August's job gains were far below the average monthly increase of 212,000 in the past 12 months. The slowdown was unexpected after most recent economic data had suggested that the economy was growing at a healthy pace.<br /> <br /> Still, wage gains have been sluggish since the Great Recession ended in 2009, and consumers remain cautious. Consumer spending dipped in July, the first decline since January.<br /> <br /> The biggest drops in hiring last month occurred in retail, which shed 8,400 jobs, after gaining 21,000 in July, and in manufacturing, where employment was flat, down from a gain of 28,000 in July. Transportation and warehousing added only 1,200 jobs, after adding 19,100 in July.<br /> <br /> The figures "will inevitably spark speculation that the US recovery is somehow coming off the rails again," said Paul Ashworth, an economist at Capital Economics. "However, we're not too concerned by what is probably just an isolated blip."<br /> <br /> Previous data released earlier this week had painted a picture of an improving economy and raised hopes that this year's strong hiring would continue. Services firms expanded in August at the fastest pace since 2008, according to a survey by the Institute for Supply Management, a trade group of purchasing managers. And factories expanded last month at the strongest rate in more than three years, the ISM found in a separate survey.<br /> <br /> Americans are willing to spend on new cars: They bought 1.58 million in August, 5.4 percent more than a year earlier and the best August showing in 11 years.<br /> <br /> In July, builders ramped up spending on construction projects by the most in more than two years, the government said this week. That is likely supporting economic growth in the July-September quarter.<br /> <br /> And U.S. exports rose in July, narrowing the trade deficit. A smaller trade deficit can boost growth because it indicates that more of the goods and services that consumers and businesses buy were made in the United States.<br /> <br /> Those reports suggested that the economy could grow at about a 3 percent annual pace in the second half of this year. That would mark a sharp improvement from the 1.1 percent annual rate in the first half.<br /> <br /> But the slowdown in August hiring also signals that Americans may need to spend more to boost growth and ensure that hiring remains healthy in the months ahead.
© Copyright 2016 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Judge denies motions to move, delay Tsarnaev trial
Lawyers for Boston Marathon bombing suspect Dzhokhar Tsarnaev asked a federal appeals court Wednesday to overturn a judge's decision to not move his upcoming trial out of state.
10:02PM ( 1 year ago )
High court to adopt electronic filing of cases
The Supreme Court is belatedly developing an electronic filing system similar to those used in courts around the country, Chief Justice John Roberts said Wednesday in his annual end-of-year report.
7:57PM ( 1 year ago )
Storm brings snow, cold to West for New Year's
A blustery winter storm dumped snow and ice across the West on Wednesday, making driving treacherous in the mountains from California to the Rockies and forcing residents and party-goers in some usually sun-soaked cities to bundle up for a frosty New Year's.
5:19PM ( 1 year ago )
U.S. News
State DOT awards $48M contract for NE Ga. road project
The state Department of Transportation has awarded a $47.8 million contract for nine miles of work on a northeast Georgia road.
9:37AM ( 1 year ago )
Business News
Grass fire impacts rush hour traffic on 985
Rush hour traffic on I-985 was slowed by a grass fire Wednesay afternoon with one lane closed while firefighters fought the blaze.
10:19PM ( 1 year ago )
Hall County conviction, sentencing to be reviewed by SCOGA
The State Supreme Court has agreed to hear the appeal of a Hall County man when they reconvene in January.
2:37PM ( 1 year ago )
Maysville man dies from Banks County wreck
The Georgia State Patrol reports that alcohol and/or drugs were factors a single-vehicle wreck that claimed the life of a Maysville man in Banks County Tuesday night.
11:07AM ( 1 year ago )
Local/State News
Pedestrian fatal blocks I-85 southbound at Dry Pond Road in Jackson County
‚ÄčA pedestrian was pronounced dead in Jackson County Tuesday afternoon, possibly hit by a vehicle on Interstate 85 at the Dry Pond Road exit, emergency officials said.
4:02PM ( 1 hour ago )
Forsyth County shooting suspect's vehicle found abandoned in Buford
The vehicle belonging to a suspected wanted for a double shooting in Forsyth County has been found in Buford, near the Mall of Georgia.
11:58AM ( 5 hours ago )
Marshals capture suspect in 2010 Hall County Murder case
A suspect who had been on the lam for over six years was behind bars in Hall County Tuesday, charged with murder and other offenses in the March 2010 beating death of a 67-year-old man.
11:50AM ( 6 hours ago )
Second man arrested in murder of homeless man in Gwinnett
Authorities in Gwinnett County said a second man has been arrested in connection with the robbery and murder of a Snellville pizza business employee.
11:21AM ( 6 hours ago )
Motorcyclist arrested after high speed chase with Georgia State Patrol in Hall, Forsyth counties
A Kennesaw man faces drug and traffic charges after he allegedly led Georgia State troopers on a high speed chase through Hall and Forsyth counties Monday night.
7:20AM ( 10 hours ago )