Job growth slowed sharply in August, the Labor Department said Friday
Total nonfarm payrolls increased by 96,000, lower than the 125,000 gain expected by Wall Street economists
Adding to the sense of weakness, job growth in the past two months was revised down by 41,000
The unemployment rate declined to 8.1% in August from 8.3% in the previous month but the drop was due to a smaller labor force
Economists forecast the unemployment rate to hold steady at 8.3%
Average hourly earnings were flat at $23.52
Earnings are up 1.7% in the past year
The average workweek was unchanged at 34.3 hours
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