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                   US Unemployment Rate Is Lowest Since 2008

   by VOA News

   The U.S. unemployment rate fell to the lowest level in 7 1/2 years in
   August but job growth fell short of expectations, offering mixed
   signals about the economy as Americans prepare to celebrate Labor Day
   on Monday.

   [1]Friday's report from the Labor Department shows a jobless rate of
   5.1 percent, down two-tenths of a percent from the previous month,
   meaning roughly 8 million people seeking work remain unemployed. The
   report also says the U.S. economy had a net gain of 173,000 jobs, which
   is less than most economists had predicted.

   The report says health care and financial services gained jobs, while
   mining and manufacturing lost positions.

   This report provides key data that leaders of the U.S. central bank
   will consider as they decide how soon and how much to raise the
   benchmark interest rate, which has been at a record low level since
   2008, in a bid to boost economic growth during the financial crisis.

   The Federal Reserve tries to manage the economy so there is both full
   employment and stable prices.

   The declining jobless rate could be seen as evidence that the
   recovering economy no longer needs support from low interest rates. But
   the disappointing job creation number might support arguments to hold
   off on raising interest rates for a while.

   Labor Day is a federal holiday, recognizing the efforts of America's
   workforce.
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   [2]http://www.voanews.com/content/us-unemployment-rate-is-lowest-since-
   2008/2947017.html

References

   1. http://www.bls.gov/news.release/empsit.nr0.htm
   2. http://www.voanews.com/content/us-unemployment-rate-is-lowest-since-2008/2947017.html