With the economy looming large in the Election the labor department is out With the latest employment data it shows The economy added 142,000 jobs in August Still sluggish though an increase from a Bad July the unemployment rate fell from A three-year high of 4.3% to 4.2% it's The first time unemployment has dipped Since March despite the gains economists Are concerned over a weakening labor Market Natalie bran is at the White House with more on this Natalie good Morning good morning to you Jeff this Was a highly anticipated jobs report the Last one before the federal reserve's Big meeting September 17th and 18th and Experts say the latest numbers keep the FED on track for a long anticipated rate [Applause] Cut stocks slid Friday with all three Major indexes down and the S&P posting Its worst week of the year it comes as The latest jobs report fell below Expectations a labor market in Transition says CBS News business Analyst Jill slesinger we don't want to See job losses but we do want to see a Slowing of the labor market so that the Inflation rate follows suit August saw 142,000 jobs added stronger than July's Revised numbers but below the average Monthly gain of the prior 12 months While construction and healthc Care Employment
Rose manufacturing lost jobs and more Than7 million people Nationwide are Still searching for one like editor Steve Sachs in Los Angeles work is a Little scarce and I think it's slowly Picking up but I know I have colleagues That are still out of work and looking Or just starting jobs in Pennsylvania Retail supervisor Jaden lovi lost her Job when her company filed for Bankruptcy in the spring but she was Rehired as the store tries to make a Comeback under new ownership we had um Like open interviews our first week and We had 380 applicants every every one Was different I had older people that Were looking for something to do while They were retired I had this is my first Job I've never had a job the August jobs Report shows workers hourly wages Rose Outpacing inflation but many Americans Are still feeling pinched and eagerly Awaiting some relief from the Federal Reserve it is highly likely that the Federal Reserve will begin its rate cut Campaign with a quarter of a percentage Point I know a lot of people are waiting And hoping to see big huge Cuts it's Just not going to happen Yet now a member of the fed's Board of Governors said in a speech on Friday That the time has come to begin rate Cuts but said the pace and depth of Those cuts is still to be determined
Based on the data Dana we'll be watching Natalie thank you
