U.S. employers added jobs at a healthy, yet more moderate pace in August, offering little evidence of any kind of definitive slowdown despite a jump in unemployment.
Nonfarm payrolls increased 315,000 last month following a revised 526,000 advance in July, a Labor Department report showed Friday. The unemployment rate unexpectedly rose to 3.7% as the participation rate climbed.
Economists projected an almost 300,000 gain in payrolls and a 3.5% jobless rate, based on the median estimates in a Bloomberg survey.
