The American labor market weakened last month as employers added just 142,000 jobs in August — well below analyst estimates of 161,000.
Reductions in the Fed’s benchmark rate will eventually lead to lower borrowing costs for a range of consumer and business loans, including mortgages, auto loans and credit cards. And a survey by the Conference Board in August found that the proportion of Americans who think jobs are hard to find has been rising, a trend that has often correlated with a higher unemployment rate.
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