US unemployment falls to 5.1%, lowest since April 2008

The US unemployment rate has fallen to 5.1%, the nonfarm payroll figures showThe US unemployment rate fell to 5.1 percent in August, the lowest since early 2008, as the economy motored steadily ahead despite a global slowdown, the Labor Department said Friday. A modest 173,000 new jobs were created last month, below what was forecast, and there were some signs that the US jobs machine was still only in second gear — wage growth remained slow, and labor force participation was still very low. “The weakness in August employment should not be over-interpreted,” said Nariman Behravesh, chief economist at economic consultancy IHS.

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