US job creation slows, easing pressure for rate hike

Job seekers check out opportunities at a job fair in Chicago, Illinois, on June 12, 2014The US economy pumped out far fewer jobs than expected in August, dimming the picture for overall growth and easing pressure on the Federal Reserve to quickly raise interest rates. Fed policymakers have forecast a likely first rise in its benchmark fed funds rate from the current zero level only in the second half of next year, when they expect the unemployment to be below the six percent mark.

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