U.S. employers added 128,000 workers to their payrolls in August, evidence of a cooler — but still solid — pace of economic growth that could let the Federal Reserve hold interest rates steady.
The closely watched Labor Department report, issued on Friday just ahead of the Labor Day holiday weekend, showed the unemployment rate dipped to 4.7 percent from 4.8 percent in July, suggesting the job market remains sturdy.
Other reports on Friday showed a slight slowing in factory activity last month, and big drops in both construction spending and pending home sales in July that offered the latest evidence of the air going out of the U.S. housing market.
