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Payrolls rose 315,000 in August as companies keep hiring

Job growth unexpectedly surges in August as payrolls grow by 315,000

Nonfarm payrolls rose solidly in August amid an otherwise slowing economy, while the unemployment rate ticked higher as more workers rejoined the labor force, the Bureau of Labor Statistics reported Friday.

The economy added 315,000 jobs for the month, just below the Dow Jones estimate for 318,000 and well off the 526,000 in July and the lowest monthly gain since April 2021.

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Fed officials may be encouraged by the labor data.