US Economy Adds New Jobs

US Economy Adds New Jobs

More than 160,000 jobs were added in August.
The labor department report released Friday, September 6 showed the unemployment rate falling to 7.3%

But it fell largely because more Americans simply dropped out of the labor force and are no longer officially counted as unemployed.

The report underlines a disappointing trend of hiring slowing down from the beginning of the year.

It points out that most of the hiring was in traditionally lower-paying industries such as retail and restaurants.

The trend can make it difficult for the federal reserve to make a decision whether it should start scaling back its stimulus measures expected later this month.

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