The labour market's resilience is driving the economy through strong consumer spending, with the closely watched employment report from the Labor Department on Friday showing solid wage growth last month
The jump in the unemployment rate after holding at 3.7 percent for three straight months reflected a further decline in household employment
US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
The labour market's resilience is driving the economy through strong consumer spending, with the closely watched employment report from the Labor Department on Friday showing solid wage growth last month
The jump in the unemployment rate after holding at 3.7 percent for three straight months reflected a further decline in household employment
US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labor market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
