America’s employers slowed their hiring in August in the face of rising interest rates, high inflation and sluggish consumer spending, all of which have weakened the outlook for the economy.
The government reported Friday that the economy added 315,000 jobs last month, down from 526,000 in July and below the average gain of the previous three months. The unemployment rate rose to 3.7 per cent, from a half-century low of 3.5 per cent in July, as more Americans came off the sidelines to look for jobs and didn’t find work immediately.
