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| US economy adds 173,000 jobs in August | US economy adds 173,000 jobs in August |
| (35 minutes later) | |
| The US added 173,000 jobs in August, the Department of Labor said on Friday, in the last unemployment report before September's interest rate decision by the Federal Reserve. | The US added 173,000 jobs in August, the Department of Labor said on Friday, in the last unemployment report before September's interest rate decision by the Federal Reserve. |
| That was below the 217,000 predicted by analysts, although the Labor Department said that figures for August tend to be revised higher subsequently. | |
| The unemployment rate fell to 5.1% - down from the July figure of 5.3%. | The unemployment rate fell to 5.1% - down from the July figure of 5.3%. |
| The rate is the lowest since April 2008. | |
| There were upward revisions to the number of jobs created in the previous two months, which added another 44,000 jobs. The revised figure for July was 245,000 jobs. | |
| The weaker-than-expected August number could make Fed officials think twice about increasing rates when they meet on 16-17 September. | |
| However, one of the officials who will help to make that decision said on Friday that the US labour market had recovered sufficiently to warrant raising rates soon. | |
| Richmond Fed President Jeffrey Lacker, who had called for a rate increase in June, said the US economy no longer needed rates to be so low. | |
| Fed officials will also take into consideration volatile global financial markets and slowing growth in China. |