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August jobs report sends mixed signals to Fed on interest rate hike

August jobs report sends mixed signals to Fed on interest rate hike

Anyone looking for a sign that Federal Reserve policymakers might raise a key interest rate later this month didn't get much of a hint from Friday's mixed report on the labor market. Employers added a modest 173,000 net new jobs in August, the Labor Department said Friday. That was the worst job growth since March. Coming amid global financial market turmoil in recent weeks, the figure could give policymakers pause in making a decision when they meet Sept. 16-17. However, wages rose last month and the unemployment rate fell to 5.1%, its lowest level in seven years. And initial August job figures have been revised up significantly every year since mid-2009. Those data points...

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