Hiring slowdown in August means Federal Reserve may not raise rates

( Commons)

WASHINGTON (AP) — Analysts think the Federal Reserve is no longer under any pressure to quickly raise interest rates — after the August jobs report showed a slowdown in hiring.

Just 151,000 jobs were created last month, which pales in comparison to the more-than 270,000 in each of June and July.

The current pace of hiring is still enough to lower the jobless rate over time — but for now, it’s holding steady at 4.9 percent.

Hourly wages barely increased in August and have risen just 2.4 percent in the past year, slightly lower than the previous month’s pace.

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