Mike Madriaga 3 p.m., June 22
U.S. adds so-so 169,000 jobs in August, while June-July revised down
Unemployment rate drops to 7.3% because more stop looking for work
The U.S. added a modest 169,000 jobs in August, below the consensus forecast of 173,000, according to the Labor Department today (Sept. 6).
Employment gains for July and June were dropped by a combined 74,000; the decline in the unemployment rate to a four-and-a-half year low reflected the fact that more people stopped looking for jobs, reducing the labor force, according to MarketWatch.
The bottom line is that this is still a slow-growth economy nationally.