The numbers: The economy added just 130,000 new jobs in August, marking the smallest increase in three months and offering more evidence that hiring has slowed amid a broadening trade dispute with China that’s disrupted the U.S. and global economies
The soft employment figures are all but certain to keep the Federal Reserve on track to cut interest rates later this month, even after another sharp increase in wages
The bright spot, wages:
A slowdown in hiring, however, is not leading to slower wage growth.
The amount of money the average worker earns rose 11 cents to $28.11 an hour last month, keeping the increase over the past year at a healthy 3.2%. Wage gains look even stronger over the past three months, suggesting that inflation could creep higher in the months ahead if that keeps up
Hat tip MarketWatch.com