US hiring rebounds slightly, unemployment rate dips amid slowing job market

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US hiring rebounds slightly, unemployment rate dips amid slowing job market - Business Standard

Quick Summary:

Hiring by America's employers picked up a bit in August from July's sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy.

The unemployment rate ticked down to 4.2 per cent from 4.3 per cent in July, which had been the highest level in nearly three years.

Employers added 142,000 jobs last month, up from a scant 89,000 in July, the Labour Department said on Friday.