US job growth slows further; wage gains pick up

  • 2019-05-07 12:00:00
  • Reporter

US job growth slowed more than expected in August, with retail hiring declining for a seventh straight month, but strong wage gains should support consumer spending and keep the economy expanding moderately amid rising threats from trade tensions. The Labor Department’s closely-watched recent monthly employment report also showed a rebound in the work week as manufacturers increased hours for workers after slashing them in July. The economy’s waning fortunes, underscored by an inversion of the US treasury yield curve, have been largely blamed on the White House’s year-long trade war with China.

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