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US jobs figures rise enough to probably head off interest rate hike

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US jobs figures rise enough to probably head off interest rate hike

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The latest US figures show that employers there added 128,000 workers to their payrolls in August, slightly more than economists had predicted. The figures are the last ones the Federal Reserve will see before they meet again on 20 September and make it more likely that they will not raise interest rates further at that time.

The statistics also showed the unemployment rate dipped to 4.7% of the working population that followed a surprise jump to 4.8% in July. The gain in employment in August is less than last year’s monthly average of 165,000 jobs, but it is still in line with the range central bank policy makers consider sufficient to keep the unemployment rate steady. Average hourly earnings for US workers rose by just 0.1%.