The United States economy didn’t add as many jobs as was expected in August. The federal government said Friday that there were 142,000 non-farm payroll jobs added. The expectation was 161,000.
Unemployment did drop slightly, as expected, to 4.2% from 4.3%. Job gains occurred in construction and health care, according to the U.S. Bureau of Labor Statistics.
Investors look at the job report to gauge the health of the labor market.
The Fed is expected to cut interest rates later this month. A 25 basis point cut is expected but there is also a possibility of a 50 basis point cut.
This is a developing story and will be updated.
