US Economy Adds 315,000 New Jobs, Unemployment Rate Rises in Sign of Slowing Labor Market

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The U.S. labor market could be showing signs of slowing down after the economy added 315,000 new jobs in August, down from 528,000 in July. 

According to the Bureau of Labor Statistics (BLS), the unemployment rate edged higher to 3.7 percent, up from 3.5 percent.  

Economists had forecast a gain of 300,000 new jobs and a jobless rate of 3.5 percent. 

Job creation was broad-based, BLS data show, with professional and business services (68,000), health care (48,000), and retail (44,000) leading the way. Manufacturing employment jumped 22,000, while mining jobs rose 6,000. Positions in the financial activities sector advanced by 17,000.  

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