US employment growth slows down after 2 months of gain
The US employment growth slowed more than expected in August after two straight months of 'robust' gains. Nonfarm payrolls rose by 1,51,000 jobs last month after an increase of 2,75,000 in July, with declined hiring in manufacturing and construction sectors. "It reduces the likelihood that the Fed will raise rates in September," Wells Fargo Securities' Chief Economist John Silvia said.