Jobs growth cools in August, seen forcing Fed’s hand
WASHINGTON (Reuters) – Jobs growth slowed sharply in August, setting the stage for the Federal Reserve to pump additional money into the sluggish economy next week and dealing a blow to President Obama as he seeks reelection in November. Nonfarm payrolls increased only 96,000 last month, the Labor Department said on Friday. While the unemployment rate dropped to 8. 1 percent from 8. 3 percent in July, that was because so many Americans gave up the hunt for work. The survey of households from which the jobless rate is derived showed a drop in employment. . . .
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