WASHINGTON (9/9/13)--U.S. company payrolls rose less than forecast in August, and gains in the prior two months were downwardly revised, signaling that firms are taking a cautious route in hiring, while they wait for consumer demand to increase (Bloomberg.com, The Wall Street journal and Moody's Economy.com Sept. 6).
Employers added 169,000 workers last month, following a downwardly revised 104,000 gain (from 162,000) in July, and 172,000 (from 188,000) in June, the Labor Department said Friday.
Meanwhile, the national unemployment rate dipped to 7.3% in August--the lowest since December 2008--from 7.4% in July.
However, that unemployment-rate decline happened while the labor force and household employment both shrank, Moody's said.
In August, the private sector added 152,000 jobs in August, while the government increased jobs by 17,000, the Journal said.