United States employers hired slightly more workers than expected in August, keeping the Federal Reserve (the Fed) on track to deliver a third 75 basis points interest rate hike this month, though the unemployment rate increased to 3.7 percent.Non-farm payrolls increased by 315,000 jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for July was revised slightly down to show payrolls surging 526,000 instead of 528,000 as previously reported. That marked the 20th straight month of job growth.Economists polled by the Reuters news agency had forecast payrolls increasing by 300,000. Estimates ranged from as low as 75,000 to as high as 450,000. The unemployment rate increased to 3.7 percent from a pre-pandemic low of 3.5 percent in July.
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