Hiring Rebounds Slightly & Unemployment Dips

WASHINGTON (AP) — Hiring by America’s employers picked up a bit in August from July’s sluggish pace, and the unemployment rate dipped for the first time since March in a sign that the job market may be cooling but remains sturdy. Employers added 142,000 jobs last month, up from just 89,000 in July. The unemployment rate ticked down to 4.2% from 4.3% in July, which had been the highest level in nearly three years. Collectively, Friday’s figures depict a job market slowing under the pressure of high interest rates but still growing. Many employers are responding to the resilience of consumers, who stepped up their spending in July.