JUST IN: US added 130,000 jobs in August, missing expectations amid global economic slowdown; unemployment rate remains 3.7%.
The economy added 130,000 jobs during the month of August, sharply missing expectations and showing a continuation of a softening in the labor market in the face of global economic headwinds.
Temporary hires for the U.S. Census contributed to August's jobs total, with the Bureau of Labor Statistics noting that 26,000 people were hired last month for door-to-door canvasing. The 2020 Census will eventually require almost half a million temporary workers. All eyes on Wall Street now turn to Federal Reserve Chairman Jerome Powell, who is scheduled to give a speech later on Friday in Zurich about the global economic outlook.
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